What’s in store for 2014 mortgage rates? RateSupermarket.ca’s expert panel has released their forecast for fixed and variable rates in January.
It appears housing markets across the country are feeling the brunt of recent CMHC mortgage changes, as sales saw a 5.8 per cent nation-wide dip from July to August. According to the Canadian Real Estate Association (CREA), this is the largest month-over-month decline since June 2010
It can be argued that Canada has weathered the economic storm better than most, but recent studies show that investor sentiment and confidence has taken a dip. When you factor in recent national job losses, a cooling housing market, and contracting pensions, just what kind of shape is our economy in?
Sometimes it’s worth shelling out extra for a brand name – but should that apply to your mortgage as well? While smaller lenders often feature the best rates in the country, mortgage shoppers often pass them up for a big bank product instead. We debunk the myths surrounding the small – but mighty – mortgage lender.
It’s been an eventful week for the mortgage market as we saw 5 year fixed rates drop to an all time new low, and contended with whispers of a forecasted housing market crash, prompting the question – will prices drop with a thud, or are we simply witnessing the effects of a cooling market?
Could the market be due for a 25 per cent crash? Today’s report by Capital Economics certainly points to that direction. Released just a day after RBC’s statement that Toronto – one of Canada’s biggest markets – is not in a bubble, today’s statement has economists and home buyers alike wondering: what’s in store for home prices?
Canada continues to be affected by a dampened outlook on the global economy as the Bank of Canada announced today that it would hold its rate due to lower-than expected economic growth since its April report.