Mortgage Digest: 50% odds of a 50-bps October rate cut, experts say

10/1/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Markets are increasingly betting on the Bank of Canada delivering a 50-basis point rate cut during its October 23 policy decision, with the odds now sitting at around 53% ... More

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

Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem

11/1/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... More

Tags: Bank of Canada, Home Owners, Mortgage Rates, Mortgage Renewals

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

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

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

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

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 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

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

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. ... More

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

Fixed or Variable Rate?

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. ... More

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

Bank of Canada 'going nowhere' with interest rates into 2020: Economist

4/3/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Bank of Canada is likely to stand pat on interest rates for the remainder of this year and well into 2020, according to the chief economist of BMO Financial Group. ... More

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

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. ... More

Tags: Bank of Canada, Fixed Rate Mortgages, Mortgage Advice, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Tips, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

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 ... More

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

Expect two rate rises in the next 3 months

10/5/2018 | Posted in Mortgage Interest Rates by Jessi Sandhu

Homeowners could be facing two interest rate rises in the coming months according to an updated forecast by CIBC. ... More

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

Bank of Canada raises overnight rate

7/11/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ... More

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

Rate hike in July? It's all down to the data

6/25/2018 | Posted in Mortgage Interest Rates by Jessi Sandhu

Economists still expect BoC rate rise but the numbers need to stack up. ... More

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

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 ... More

Tags: Bank of Canada Benchmark Rate, Big Six, Fixed Rate Mortgages, Home Buyers, Home Buyers Tips, Mortgage Advice, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

Mortgage interest costs see biggest growth since 2009

4/27/2018 | Posted in Mortgages and Real Estate by Jessi Sandhu

Latest data from Statistics Canada showed that mortgage interest costs increased by 2.8% in March, representing the biggest rise since April 2009. ... More

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

Bank of Canada Raises Benchmark Rate to 1%

9/6/2017 | Posted in Mortgage Interest Rates by Jessi Sandhu

The Bank of Canada forged ahead with another interest rate hike in a nod to the country’s surging economy, while signaling its appetite for further tightening may be curbed ... More

Tags: Bank of Canada Benchmark Rate, Canada, Canada Real Estate, Canadian Housing Market, Mortgage Consumers, Mortgage Rates, Mortgage Rates Canada, Mortgages & Real Estate, Variable Rate Mortgages

Why people are turning to their phones for mortgage advice

8/25/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

“Hey Siri, what’s the best mortgage rate?” ... More

Tags: Home Buyers, Home Buyers Tips, Home Owners, Mortgage Consumers, Mortgage Industry, Mortgage Rates, Mortgage Trends

The darker side of low rates

8/22/2017 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canadians have qualified for much larger mortgages over the past two decades due to record-low interest rates, and that has impacted affordability according to the Fraser ... More

Tags: Canada, Canada Real Estate, Canadian Housing Market, Home Prices, Housing Affordability, Mortgage Rates

Interest rates to hit 1.75% by summer 2019

8/16/2017 | Posted in Mortgage Interest Rates by Jessi Sandhu

The latest forecast from CIBC Capital Markets is for Canadian interest rates to increase again in December this year. ... More

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

Canada's economy accelerates, rate hike expectations grow

7/28/2017 | Posted in Mortgage Interest Rates by Jessi Sandhu

Canada’s economy accelerated far more than expected in May amid growth in the energy and manufacturing sectors, pointing to solid momentum in the second quarter ... More

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

Now that the Bank of Canada has scratched the interest rate itch, get ready for more

7/24/2017 | Posted in Mortgage Interest Rates by Jessi Sandhu

Many of the world's central bankers, including in Canada, had been stubbornly tied to low-for-longer interest-rate regimes following the recession. That time has ended. ... More

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

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 ... More

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

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 ... More

Tags: Canada Mortgage and Housing Corporation, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Industry, Mortgage Rates, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada says next move likely an interest rate hike

6/12/2017 | Posted in Mortgage Interest Rates by Jessi Sandhu

The Bank of Canada offered its strongest signal yet that it’s ready to raise interest rates as the economy gathers steam, in surprise comments that sent the Canadian dollar ... More

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