Recent Posts in ‘Mortgages’
Bank Of Canada Interest Rate Announcement- Prime Rate Unchanged
Tweet As was widely expected the Bank of Canada announced that they would keep the prime rate unchanged this morning. In the BoC’s press release which you can read here, the bank observed that the global economy has slowed significantly. The mood of households much like banks and business is to avoid risk and there
Mortgage Interest Rate Review Oct 20 2011
Tweet At risk of sounding like a broken record, this week variable rate mortgages have continued with their upwards trend towards prime. This is a trend that has developed over the past 30 days and has caused the 5 year variable rate to rise 65 basis points inside of a month. We also saw a
The Donald, You’ve Been Trumped & Why You Should Use A Mortgage Broker
Tweet This past Spring I attended the Hot Docs film festival with my friend and real estate colleague Mark Savel of Savelandthecity.com fame. We watched a great film by British film director Anthony Baxter entitled “You’ve Been Trumped”. The film documents the David vs. Goliath like struggle of a local small town Scottish community attempting
Variable Rate Mortgages Continue To Increase – Trend of the Shrinking Spread
The culprit seems to be narrowing spreads. The spread is essentially the difference between the rate offered by a lender to a client minus the lender’s cost to fund your mortgage. The lender’s base cost for variable rate mortgages is typically a 30 day bankers’ acceptance (BA) yield.
Mortgage Interest Rate Review Oct 7th 2011
Tweet This week, mortgage interest rates have continued a trend that we’ve seen developing over the past 4 weeks. Mortgage lenders are effectively enticing mortgage borrowers to take fixed rate mortgages by lowering their fixed rates and increasing the spreads on their variable rate mortgages. This has created a convergence of fixed and variable making
Mortgage Interet Rate Review September 28th 2011
Tweet Last Friday, September 23rd, we saw a huge drop in the Government of Canada 5 year bond yield. This drop creates downwards pressure on fixed rate mortgages which are priced according to bond yields. Although fixed rate mortgages are priced at an all time low it appears that there is the capacity for rates
How Low Can Mortgage Rates Go? Podcast with Eric Lam of The Financial Post
Tweet Last Friday I was interviewed by writer Eric Lam on The Financial Post’s Big Picture Podcast. During the podcast Eric interviewed me on a few recent developments in the mortgage market including what effects the most recent Bank of Canada interest rate decision would have on the mortgage market as a whole. We also
The 50/50 Mortgage, Why You Should Consider It
Tweet Here’s the situation: you’re in the market for a mortgage. Your timing is perfect because rates have never been so low. Your colleagues at work took a variable and can’t believe the unbelievably low effective rate they are paying. Your parents are conservative old school and think it would be foolish to pass up
Bank Of Canada Leaves Prime Rate Unchanged
Tweet The Bank of Canada left the prime rate unchanged today. In explaining the decision to leave borrowing costs alone for an eighth meeting, as expected, the central bank said it believes Canada’s economy is growing again after stalling in the second quarter, but painted a troubling picture for the United States and Europe, and
