Friday Mortgage Round-Up: March 30th, 2012

March 29, 2012 by Laura

Friday Mortgage Round-Up: March 30th, 2012

A recent poll has shown that 50 per cent of all Canadians would choose a fixed rate mortgage if they had to decide today, up from 39 per cent in 2011; whereas only 32 per cent would choose a variable rate mortgage, no change from last year. The other 18 per cent aren’t sure which product would be right for them which is much less than the 30 per cent from last year. Likely the shift in preferences is due to the fact that the majority (86 per cent) of Canadians believe that mortgage rates will either stay the same or increase within the next year.
READ MORE

Friday Mortgage Round Up – March 9th, 2012

March 8, 2012 by Laura

Friday Mortgage Round Up – March 9th, 2012

Last weekend the government announced a change to current mortgage regulations which now require federal financial institutions to revise the mortgage penalty disclosures they provide to consumers. Plus, BMO is back in full force with their announcement of offering 2.99 per cent on their 5 year fixed mortgage product and TD has responded by bringing back their 2.99 per cent 4 year fixed mortgage.
READ MORE

March Mortgage Rates Coming In Like a Lamb

March 7, 2012 by Kelvin Mangaroo

March Mortgage Rates Coming In Like a Lamb

RateSupermarket.ca’s Expert Mortgage Panel Expects Moderate Increases to Fixed Mortgage Rates and Level Variable Rates Heading Into Spring. With the spring real estate season on the horizon and historically low interest rates, the debate on the minds of those preparing for a mortgage is Fixed vs. Variable. Although the Fed has promised to keep their interest rates constant until 2013, in Canada several factors can impact rate fluctuations, though in this market, likely not significantly.
READ MORE

Friday Mortgage Round Up – February 24th, 2012

February 23, 2012 by Laura

Friday Mortgage Round Up – February 24th, 2012

TD and RBC were supposed to have their promotional rates available on the 2.99 per cent four year fixed mortgage until the end of this month (February 29th to be exact). But low and behold, just two short weeks after BMO’s campaign ran its course TD and RBC took their promo rate off the table as well. Those rates are history now; in fact they did make history as being the lowest 4 year fixed rate on RateSupermarket.ca. If you are interested in a 4 year term from one of the Big 6, you are now looking at 3.39% (or more) which is 40 bps higher than the short lived promotional rate.
READ MORE

Canadian Mortgage Rates Market Expected to Cool

February 7, 2012 by Kelvin Mangaroo

Canadian Mortgage Rates Market Expected to Cool

Recent fluctuations in variable and fixed mortgage rates have left Canadian consumers confused about future mortgage trends. The good news is that February should be less volatile, with RateSupermarket.ca’s Mortgage Rate Outlook Panel anticipating both fixed and variable mortgage rates will remain level during the month.
READ MORE

BLOG | Money Wise