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. ... More

Tags: Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing

Sustained low interest rates no longer possible, says former BoC governor

9/4/2023 | Posted in Interest Rates by Jessi Sandhu

This is despite a projected slight drop in the BoC’s policy rate by the end of 2024 or early 2025 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Interest Rates, Mortgage Interest Costs, Mortgage Rates Canada, Variable Rate Mortgages

Expect interest rates to remain high until 2025: former BoC governor

8/2/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

A prolonged period of heightened interest rates will be critical to Canada’s central bank reaching its inflation target, a former Bank of Canada Governor said. ... More

Tags: Mortgage Consumers, Mortgage Interest Costs, Mortgage Rates Canada

Canadian market participants see rates staying at 5 per cent in 2023: BoC survey

7/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

The Bank of Canada (BoC) will not raise rates again and will start cutting a little later than previously anticipated, according to a survey of market participants released by the ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Mortgage Rates Canada, Variable Rate Mortgages

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Deferrals, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Renewals, Mortgage Trends, Variable Rate Mortgages

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Fixed Rate Mortgages, Interest Rates, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Variable Rate Mortgages

Interest rate shock won't hit fixed-rate mortgage borrowers until 2025, expert says

6/22/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

While the pain of elevated interest rates is already hitting those with variable-rate mortgages, the sticker shock of higher payments might not be felt for a couple years among ... More

Tags: Mortgage Consumers, Mortgage Rates Canada, Mortgage Renewals

BoC debated waiting until July to hike rates, but says data prompted it to act sooner

6/21/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada's governing council considered waiting until July to raise interest rates, but ultimately decided to act sooner in the face of hot economic data. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Interest Rates, Mortgage Rates Canada, Variable Rate Mortgages

Bank of Canada likely to hike again in July: TD

6/16/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

Central banks seek sweet spot between fighting inflation and sparking recession ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing

Canada mortgage market crisis coming amid high rates?

6/13/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Could the prospect of persistently high rates spell trouble for the market’s stability? ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada GDP, Canada Living, Canada Real Estate, Economic Growth, Mortgage Market, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends

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 ... More

Tags: Fixed Rate Mortgages, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

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. ... More

Tags: Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Variable Rate Mortgages

Further BoC hike may be necessary, says leading economist

5/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

The central bank has kept the policy rate frozen at 4.5% in its two most recent meetings ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

Interest rates are plunging - so why aren't mortgage rates?

4/5/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu

Bond yields and central bank rates have never been lower, but not all the savings are filtering down. ... More

Tags: Big Six, Mortgage Rates Canada

Mortgage rates are rising in Canada despite virus-relief cuts

3/31/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu

Canada’s mortgage rates are creeping up even though the country’s central bank has slashed borrowing costs to combat the COVID-19 pandemic. ... More

Tags: Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends

What the Bank of Canada rate cut means for mortgages

3/5/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that. ... More

Tags: Canada Real Estate, Canadian Real Estate Market Outlook, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Variable Rate Mortgages

BoC rate must be at 1.5%, think-tank's fiscal policy council says

3/2/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Just a few days before the Bank of Canada’s March 4 meeting, the Monetary Policy Council of the C.D. Howe Institute called on the institution to lower its benchmark policy ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

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 ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

Bank of Canada Holds Rates, Shows Less Confidence in Outlook

1/22/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Mortgage Rates Canada, Variable Rate Mortgages

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. ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

Canadian households to get short break from rising debt costs

12/31/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

TD economists says the cost of servicing debts should ease early in 2020 ... More

Tags: Bank of Canada Benchmark Rate, Canada Living, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Bank of Canada keeps key interest rate target on hold

12/5/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada kept its key interest rate on hold as expected at 1.75 per cent where it has been for more than a year as it said Wednesday that ongoing trade conflicts and ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates Canada, Variable Rate Mortgages

Scotiabank pushes back its Bank of Canada rate cut forecast

11/29/2019 | Posted in Mortgage Interest Rates by Jessi Sandhu

Scotiabank now sees the Bank of Canada lowering its benchmark interest rate at the beginning of 2020 instead of at the central bank’s next meeting. ... More

Tags: Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate

Canadian mortgage debt growth continues unabated

10/10/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada’s outstanding mortgage credit load continues breaking records, reaching a new high of more than $1.59 trillion as of August, according to the country’s central ... More

Tags: Canadian Mortgage Market, Mortgage Consumers, Mortgage Market, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Statistics Canada

More Fed cuts expected to push Canadian interest rates lower

9/19/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well. ... More

Tags: Canadian Mortgage Market, Home Buyers, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

Canadian mortgage borrowers have a 'rare opportunity'

9/6/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests. ... More

Tags: Canada Real Estate, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Renewals, Mortgages & Real Estate, Variable Rate Mortgages

A Bank of Canada rate cut as early as September

8/20/2019 | Posted in Interest Rates by Jessi Sandhu

A slowing economy and growing trade tensions suggest a cut will happen more quickly than currently accounted for, Macquarie economist says. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

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. ... More

Tags: Canadian Mortgage Market, Fixed Rate Mortgages, Home Buyers, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

The era of higher mortgage rates was short-lived

7/18/2019 | Posted in Mortgage Interest Rates by Jessi Sandhu

Those renewing or about to renew their mortgages can breathe a sigh of relief: The era of higher interest rates appears to have been short-lived. ... More

Tags: Canadian Mortgage Market, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, Variable Rate Mortgages