New mortgage activity slowing - but debt continues rising, says CMHC
11/9/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages outstanding ...
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Bond yields surge to new heights, mortgage rates expected to jump another 20 bps
10/4/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Over the past two weeks, yields have risen by over 30 basis points, or 0.30%. Since bond yields typically lead fixed mortgage rate pricing, rates have been steadily on the rise. ...
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Fixed mortgage rates expected to surge as bond yields reach 16-year high
9/22/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high. ...
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Fixed rates back as top mortgage product of choice: National Bank
8/23/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Despite interest rates potentially being at or near a peak, borrowers aren’t betting on rate cuts anytime soon. ...
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How risky is it to extend Canadian mortgage amortizations?
6/27/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from ...
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Another week, another rise in fixed mortgage rates. How high could they go?
6/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Mortgage lenders, including most of the big banks, have continued to hike their fixed mortgage rates following the recent surge in Government of Canada bond yields, which are used ...
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Fixed mortgage rates surge again, pushing rates under 5% to the brink
6/16/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory. ...
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Prime rate reaches 22-year high of 6.95% and could rise further as rate-hike expectations grow
6/11/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Variable-rate borrowers will see their interest cost on their next mortgage payment rise as banks and other financial institutions have lifted their prime rates to a 22-year high ...
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Demand grows in Canada for short-term fixed-rate mortgages
5/17/2023 | Posted in Home Buyers by Jessi Sandhu
A string of aggressive interest rate hikes from the Bank of Canada is driving short-term fixed-rate mortgage demand higher, according to a new survey. ...
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Lenders - including some big banks -are hiking fixed mortgage rates again
5/29/2023 | Posted in Interest Rates by Jessi Sandhu
The past two weeks have seen a flurry of mortgage rate increases at mortgage lenders, including several of the Big 6 banks. ...
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Fixed rate mortgages could go on sale
1/29/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu
Fixed rate mortgages could go on sale as fears of spreading coronavirus push bond yields down ...
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Ultra-low Rates Will Persist: RBC
1/17/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The 2020s won’t be the decade to lock into a long-term fixed mortgage, according to RBC Economics. ...
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Canadians more likely to be homeowners, have a mortgage
8/9/2019 | Posted in Canadian Housing Market by Jessi Sandhu
Homeownership rates are higher now than they were two decades ago according to a new analysis from Statistics Canada. ...
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With fixed rates below variable ones, mortgage market is in the Upside Down
7/28/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Strange Things: Canadians can now get a lower interest rate on a new mortgage by locking into a fixed rate, rather than opting for a variable rate. ...
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Mortgage market suffers 'extended chill' says Equifax
6/17/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Canadian mortgage market continues to suffer from the impact of lower home sales in major markets as the stress tests weaken homebuyers’ abilities. ...
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More mortgage rate cuts could be coming for Canadian homebuyers
6/11/2019 | Posted in Mortgage Interest Rates by Jessi Sandhu
Canadian mortgage rates have already tumbled in recent months and more discounts could be on the way for homebuyers, a according to a new forecast. ...
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Canadian mortgage rates falling to their lowest level in 2 years
6/7/2019 | Posted in Interest Rates by Jessi Sandhu
Spring is typically a busy time for home sales, so lenders are competing fiercely right now for new business — and that's adding up to record low rates for borrowers. ...
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5/6/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Goodbye, variable-rate mortgage. Everyone’s going fixed these days, and for good reason. ...
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The bond market is now sending a clear signal: Go with a variable-rate mortgage
12/6/2018 | Posted in Mortgage Interest Rates by Jessi Sandhu
If you’re shopping for a mortgage and believe what the bond market is telling us, it implies your odds of success with a fixed rate may have just changed. ...
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Rate rises may be reshaped by oil production cuts says CIBC
12/4/2018 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada will announce its December interest rates decision Wednesday and few are expecting a Grinch-like pre-Christmas shock. ...
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Mortgage renewals have entered a new era
11/6/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu
As Canadian mortgages come up for renewal, many households are starting to experience what TD Economics has dubbed a “completely new phenomenon” – higher ...
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Mortgage rates are rising. Here's how you can save money
5/28/2018 | Posted in Mortgage Interest Rates by Jessi Sandhu
Canada’s big banks are locked in a competitive pricing war over variable-rate mortgages, but economic trends point to more interest rate hikes ahead — leaving Canadian ...
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Higher interest rates add to home buyer struggles
5/16/2018 | Posted in Home Buyers by Jessi Sandhu
First-time home buyers already struggling with more stringent mortgage rules have been dealt another blow by an increase this week in the Bank of Canada’s five-year mortgage ...
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5-year mortgage holders, brace yourselves
1/19/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada’s decision to raise its benchmark rate to 1.25% earlier this week will make renewals a significantly more daunting prospect for mortgage holders. ...
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Consumers Rush to Lock in Mortgage Rates ahead of Bank of Canada Rate Hikes
9/12/2017 | Posted in Mortgage News by Jessi Sandhu
The number of Canadians who applied for a fixed-rate mortgage in August saw a substantial spike, with 59.31% of users on the LowestRates.ca website opting for a fixed-rate ...
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Proposed mortgage rules aim to reduce financial risk in Canada's hot housing markets
7/7/2017 | Posted in Mortgage News by Jessi Sandhu
New rules proposed by the federal government to curb financial risks associated with the country's hot housing markets could make it more difficult to secure a ...
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Homeowners worried over rate hike advised to lock in mortgages - experts
6/22/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu
Homeowners with variable rate mortgages losing sleep over the increased chatter about a potential interest rate hike by the Bank of Canada should consider locking their rates in ...
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U.S. Fed closing the door on low-rate mortgages in Canada
6/15/2017 | Posted in Mortgage Interest Rates by Jessi Sandhu
The U.S. Federal Reserve raised its trend-setting interest rate on Wednesday for the third time in six months to the highest level since the global financial crisis hit in the ...
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Canada's central bank acts to defuse housing market threat
6/15/2017 | Posted in Mortgage News by Jessi Sandhu
Canada's central bank, which had long said interest rates are too blunt a tool to tackle the country's housing market, may have finally decided to act and at least limit ...
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Mortgage rates continue to defy expectations as Trump runup fizzles
4/28/2017 | Posted in Mortgage Interest Rates by Jessi Sandhu
Here’s the least surprising news you’ll hear all day: Interest rates are not doing what most experts predicted. ...
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