Posts tagged ‘Mortgage Interest Rates’
Canada Looks To Tighten Mortgage & Credit Lending Rules In 2012
Tweet This week there are two headlines grabbing the attention of mortgage brokers, bankers and borrowers in Canada. Both have far reaching implications in the mortgage industry and it may not be a fluke that both are making headlines in Canada at the same time. On the one side we have the government of Canada [...]
Reaction to BMO’s 2.99% Fixed 5 Year Mortgage
Tweet Yesterday Bank of Montreal announced a new fixed 5 year rate mortgage that has set a new all time low for mortgage rates in Canada. Is it the lowest rate? Yes. Is it the best mortgage? Maybe not. Watch the video below to learn why. Tweet
What Is A Cashback Mortgage?
Tweet Bank branches sometimes promote them and you may have come across paper and online ads for them. So what is a cashback mortgage, and more importantly, who should consider them? A cashback means that the lender will give you 5% of your mortgage amount back as cash. So, if you borrow $100,000 they will [...]
3.25% For A Fixed 5 Year Mortgage: A New Low
Tweet I stand corrected. Earlier this fall I mused on my blog that fixed rate mortgages had run their course and would hold steady or trend upwards gradually into 2012 and beyond. I thought that the period of ultra low fixed rate mortgage money was over and that banks wouldn’t pass on rate discounts to [...]
Mortgage Interest Rate Review December 6th 2011, Prime Rate Remains Unchanged
Tweet The Bank of Canada met this morning for the last time in 2011 to make their interest rate announcement. As was widely expected the bank left the prime rate unchanged at 3.00%. If you have a variable rate mortgage or a line of credit your monthly payment won’t change. The bank reported that conditions [...]
Mortgage Interest Rate Review November 23rd 2011
Tweet The number of Canadians carrying mortgage debt into their 70s was the hottest mortgage topic this week. A recent RBC poll showed that one-third (33 per cent) of older Canadians over the age of 55, have 16 or more years left on their mortgage term. This statistic makes me wonder if these older Canadians [...]
Mortgage Interest Rate Review November 10th 2011
Tweet The mortgage interest rate roller coaster continues to enthrall its riders yet again. The latest twist came as Sheryl King, an economist at Bank of America, predicts that Europe’s worsening sovereign-debt crisis is going to push the central bank to cut its key rate down to .025% or 2.25% in consumer terms. Her report [...]
King for a Day: Why Now Is The Time For A Fixed Rate Mortgage
Tweet Earlier this week Rob Carrick of the Globe & Mail wrote an article Variable or Fixed? It’s no contest. As a regular observer and reader of mortgage news I am rarely enthusiastic about the media’s mortgage rhetoric however this week’s article was timely and perfectly expresses why in today’s market the fixed rate mortgage [...]
Of Bonds, Mortgages & Pensions
Tweet As a mortgage broker I am always observing and monitoring the Government of Canada 5 year bond yield to look for cues about where fixed rate mortgages are heading. The price of fixed rate mortgages has a direct positive relation with Government of Canada bond yields so that when the yield goes up interest [...]
