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Category: Mortgage Trends & Rates (14 posts)
Mortgage Rate Increase: Don't Let the Media Scare You!
July 18, 2022 | Posted by: Rachel Moffat
OUCH! The 1.0% increase (last Wednesday, July 13, 2022) on top of the previous increases of 0.25%, 0.5%, 0.5%, amount to 14-month record-breaking 2.25% increase. The Banks (Lenders) have now set th ...
read moreBank of Canada Rate Announcement | March 2, 2022
March 3, 2022 | Posted by: Rachel Moffat
The Bank of Canada (BOC)has increased the overnight rate (think wholesale rate) and thus the Prime Rate (think retail rate) has increased. The BOC Prime will be increasing by 0.25% from 2.45% ...
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Changes to the Stress Test and What You Need to Know
July 19, 2021 | Posted by: Rachel Moffat
As you may have heard, the Bank of Canada recently changed the stress test rules as of June 1, 2021. With these changes, now both insured and uninsured mortgage borrowers will be subject to a ...
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The Benefit of Rate Holds
May 13, 2021 | Posted by: Rachel Moffat
The term “rate hold” may be something you are familiar with if you have worked with me in the past. If not, it is a term that all prospective buyers should know! A rate hold is of ...
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The Rate Today
June 5, 2020 | Posted by: Rachel Moffat
Current Bank of Canada Qualifying Rate: 4.94% In order to find out how the current rate impacts Canadian consumers, we must first identify insured and uninsured borrowers. Do you have LESS ...
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Lock-In or Stay Variable?
April 9, 2020 | Posted by: Rachel Moffat
Whether you already have a mortgage or are looking to get your first mortgage amid COVID-19, there are some things you should know regarding fixed and variable rate mortgages during this time. If y ...
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No News is Good News
January 24, 2020 | Posted by: Rachel Moffat
On January 22, 2020, the Bank of Canada (BoC) announced that the overnight rate will be held at 1.75%, same as before.The BoC is also projecting that the Canadian economy will grow by 0.4% to arrive a ...
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The Mortgage Default Rate
August 20, 2019 | Posted by: Glen Kelleway
There has been a lot of talk about the growing debt in the personal finances of everyday Canadians. And to some extent, it may be true. No doubt, many consumers have gotten used to throwing ...
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Homebuyers to Get New Mortgage Incentive, Home Buyers Plan Boost Under 2019 Budget
April 19, 2019 | Posted by: Glen Kelleway
Can’t afford to buy a house? The government may take on part of the cost. That is the gist of the boldest proposal that Budget 2019 puts forth to help more middle-income Can ...
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Tempered Rate Hike Forecasts for 2019
January 24, 2019 | Posted by: Glen Kelleway
Floating-rate mortgage holders who had feared the Bank of Canada’s recent full-steam-ahead view towards continued rate hikes can take a breather—at least for now. ...
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Mortgage Rules Change for the Self-Employed
August 15, 2018 | Posted by: Glen Kelleway
It’s About To Get Easier To Qualify For A Mortgage For These 15% Of Canadians After the new mortgage stress test came into effect in January 2018, this year has had more than its ...
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Bank of Canada Banckmark Rates Rise
July 12, 2018 | Posted by: Glen Kelleway
MORTGAGE NEWS BANK OF CANADA BENCHMARK RATE RISES Despite international trade tensions, The Bank of Canada (BoC), as of Wednesday, July 11, 2018, raised the benchmark interest rate. This is th ...
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A Moderate Housing Market Most Likely Over The Next Two Years
December 8, 2017 | Posted by: Glen Kelleway
A Moderate Housing Market Most Likely Over The Next Two Years The Canada Mortgage and Housing Corporation’s (CMHC) 2018 Housing Market Outlook showed that housing markets in t ...
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Genworth Canada publishes an Infographic on Canadian Mortgage Patterns
April 16, 2016 | Posted by: Glen Kelleway
2014-04-16 - 10:03:40How do you compare with other Canadians with regard to home ownership and your financial well-being?Check this out... 2014-04-16_Genworth_Infographic_-_MortgagePatterns.pdf (Ple ...
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