Is breaking your mortgage for a lower rate worth the prepayment penalty?
9/22/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost? ...
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Where are the most mortgage-free homeowners in Canada?
5/30/2024 | Posted in Home Owners by Jessi Sandhu
A recent study on Statistics Canada data shines light on trend ...
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Variable or short-term fixed mortgage? Where experts see the "sweet spot"
3/13/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ...
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Mortgage deselection: Can your lender choose not to renew your mortgage?
12/11/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
In its third-quarter earnings call, Scotiabank said it was undertaking a strategy of “customer deselection at renewal” as part of its efforts to slow its mortgage ...
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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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What impact might OSFI's new proposals have on borrowing costs?
7/26/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ...
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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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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? ...
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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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Canada's big banks field half a million mortgage deferral requests
4/4/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s biggest banks have received nearly half a million requests from homeowners to hold off mortgage payments as the economic fallout from the COVID-19 pandemic deepens, ...
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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. ...
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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 ...
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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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Why longer-term mortgages could be beneficial
1/22/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The current lending rules in Canada are geared towards shorter-mortgage terms ...
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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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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 ...
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CMHC's Siddall Defends Policies, Provides Update on the FTHBI
11/22/2019 | Posted in Canadian Housing Market by Jessi Sandhu
Some fresh information on the status of the First-Time Home Buyer Incentive (FTHBI) and a possible increase on the $1M cap for insured ...
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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 ...
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Mortgage interest cost index slows but cost of living remains higher
10/21/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The cost of living was higher across many products and services in September. ...
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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. ...
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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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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. ...
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Alternative lenders increase share of slowing Canadian mortgage market: CMHC
7/17/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
An increasing number of homeowners turned to alternative lenders last year, while new mortgage growth reached its slowest pace in more than a quarter of a century amid government ...
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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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Regulator defends mortgage stress test in face of pushback from industry
6/11/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada’s top federal banking regulator says a stress-test for uninsured mortgages is “working,” but that it is still keeping an eye on lending practices. ...
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BoC touts long-term mortgages to open MBS market
5/9/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu
Bank of Canada Governor Stephen Poloz suggested that lenders should encourage mortgage products with longer terms as a means of distributing risk more evenly and insulating the ...
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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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Bank of Canada to hold interest rates through 2020: TD Securities
3/15/2019 | Posted in Interest Rates by Jessi Sandhu
The Bank of Canada will likely hold off raising interest rates through all of 2020, and could even cut rates later this year, according to TD Securities’ senior rates ...
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