I was out of the city this past Monday camping in Killbear Park far from any internet connection making it impossible to get my Monday Mortgage Minute up. I’ll just briefly post the current rates for anyone who is looking to see how rates have changed since last week.
Chris Molder – Son Of A Broker
2.70% [...]

All signs are pointing to lower fixed rate mortgages again for the 3rd time this year. Bond yields are low and as a result we are seeing fixed rate mortgage prices dropping just a little bit further this week. The Bank of Canada has also dropped its benchmark qualifying rate for high ratio mortgages by [...]

It looks like the fixed mortgage rate market has stabilized after the bank of Canada’s  decision to increase the prime rate earlier this month. While rates aren’t as low as earlier this year, mortgage interest rates still remain low historically speaking.
With signs that the housing market is cooling and interest rates are staying low you [...]

Following the Bank of Canada’s interest rate announcement last Tuesday we weren’t too sure in which direction the fixed rate market would move. Mortgage lenders responded by lowering their fixed rate mortgage rates. They also increased the spread on the 5 year variable rate mortgage from P-0.50 to P-.60 giving an effective rate of 1.90% [...]

Toronto mortgage interest rates haven’t changed over the past 7 days. However tomorrow morning after the Bank of Canada makes their decision regarding the prime rate we could see some interesting movement in the fixed rate mortgage market. Stay tuned for more.
Chris Molder – Son Of A Broker
2.85% – 1 Year Fixed
3.85% – 3 Year [...]

I didn’t manage to get this post up yesterday it was way too nice of a day! As explained in past videos, fixed rate mortgages are dependent on bond yields. Over the past 2 weeks the yields have suffered as a result of the economic turmoil in Europe caused by the Greek crisis. Even positive [...]

2.65% – 1 Year Fixed
3.85% – 3 Year Fixed
4.35% – 5 Year Fixed

3.25% – Merix 50/50 Mortgage (Fixed/Variable hybrid)
P-.40   3 Year Variable
P-.50   5 Year Variable
NOTE: Rates are subject to change without warning at the lender’s discretion.

The problems over seas in Europe are already hitting close to home as bond yields have dipped for the last couple of days indicating that investor confidence is shaken. This bodes well for borrowers looking to get into fixed rate mortgages as there may be a reversal to the sharp steady increases to fixed rate [...]

Mortgage interest rates continue to climb for the 4th week in a row. There is a lot of discussion between observers and economists who think that the banks are prematurely driving rates up as highlighted in Rob Carrick’s Globe & Mail article, “Are Big Banks Jumping the Gun?”. With each passing week the variable option [...]

After a very quick increase to fixed rate mortgages over the past 2 weeks mortgage lenders have started to compete for the new fixed 5 year. The standard rate is 4.59% however some lenders have introduced their quickclose rate at 4.39%.
The dilemma of deciding to go fixed over variable is on every borrower’s mind these [...]