Friday Mortgage Round-Up: March 30th, 2012
Mortgage News / Mortgages

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. Continue reading »

Friday Mortgage Round Up – March 9th, 2012
Mortgage News / Mortgages

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. Continue reading »

Bank of Canada Rate Announcement March 2012 – No Change to Interest Rates
Mortgage News / Mortgages

Bank of Canada Rate Announcement March 2012 – No Change to Interest Rates

The Bank of Canada (BOC) announced today (March 8th, 2012) that the overnight lending rate will remain unchanged for the 12th consecutive time over the last 18 months. The last time the BOC made a change to the overnight lending rate was back in September of 2010 with an increase of 25 basis points. The overnight rate currently lingers at 1 per cent. The bank rate is at 1.25 per cent and the prime lending rate also remains at 3 per cent. Continue reading »

March Mortgage Rates Coming In Like a Lamb
Mortgage Rate Outlook Panel

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. Continue reading »

Friday Mortgage Round Up – February 24th, 2012
Mortgage News / Mortgages

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. Continue reading »

Canadian Mortgage Rates Market Expected to Cool
Mortgage News / Mortgage Rate Outlook Panel / Mortgages

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. Continue reading »

Mini Real Estate Boom: A Sign Of What’s To Come
Economic News / Mortgage News / Mortgages

Mini Real Estate Boom: A Sign Of What’s To Come

January is turning into one of the hottest months ever for real estate sales. Realtors say they have never experienced such a busy January. In my opinion, 2012 could be one of the hottest years for real estate. The mini boom the country is experiencing now will only grow as we move into the busiest real estate season. What’s behind the boom? Continue reading »

Friday Mortgage Round Up: January 20th, 2012
Mortgage News / Mortgages

Friday Mortgage Round Up: January 20th, 2012

This past Tuesday the Bank of Canada had their first meeting of 2012 to discuss any changes they were going to make to the overnight lending rate. Low and behold … no change. This came as no big surprise to Canadians and the overnight rate remains steady at 1%. FYI the next meeting is scheduled for March 8th, 2012. How does this impact the mortgage industry exactly? Continue reading »

Lower Fixed Mortgage Rates Expected as Lenders Fight for Business
Mortgage News / Mortgage Rate Outlook Panel / Mortgages

Lower Fixed Mortgage Rates Expected as Lenders Fight for Business

Canadian consumers could see lower fixed mortgage rates this month as competition heats up and lenders look to build their mortgage pipeline for the year, says RateSupermarket.ca’s Mortgage Rate Outlook Panel for January 2012. Lenders are eager to get a good start to the new year and build up their fixed mortgage rate client base, which means fixed rates could decrease as competition picks up. Variable mortgage rates, on the other hand, are expected to remain level. Continue reading »