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Category Archives: Mortgage News
Banks pull back on low rate mortgages
Canada’s major banks pulled back on historic-low mortgage offers this week by raising their posted rates. But that doesn’t mean the deep discounting seen over the last month has necessarily ended. Several of the banks are still unofficially offering deep … Continue reading
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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. via Lower Fixed Mortgage Rates Expected … Continue reading
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Canadian home prices will rise again in 2012, but slower than last year: LePage
Canadian home prices will continue to go up in 2012, although at a slower pace than they did last year, according to one of the country’s largest real-estate sales organizations. Royal LePage, which franchises brokerages across the country, predicted Thursday … Continue reading
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Buying a Home? CMHC Offers Range of Tips and Resources
Buying a home is one of the biggest financial decisions you will make. Canada Mortgage and Housing Corporation CMHC offers a variety of publications, calculators and tools to help you make informed and responsible homebuying decisions. To assist you in … Continue reading
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High consumer debt – What it means to you
There has been a lot of news from the daily newspapers and the Canadian government over the past year about excessive debt levels for consumers. For example take a look at these statements from Statistics Canada from mid September: Canadian … Continue reading
Average home price rises 6.5% to $352,600
Higher sales in a number of major markets, most notably Toronto, helped push the average price of a Canadian home up 6.5 per cent in September compared with a year earlier. The Canadian Real Estate Association said Monday the average … Continue reading
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Boomers plan to retire mortgage-free but many are cutting it close
Nearly four-in-ten (39%) boomers who plan to retire in the next three years still have a mortgage on their home, yet two-thirds of boomers expect to retire mortgage-free (65%). According to the TD Canada Trust Boomer Buyers Report, many boomers … Continue reading
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Royal Bank, CIBC raise mortgage rates after bond rates increase
Mortgage rates are on the rise in Canada after a strong U.S. jobs growth report bumped up the cost of borrowing in the bond market. Royal Bank says it is raising rates on some variable rates as well as … Continue reading
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September strong for sales in Toronto, with listings expected to pick up
Residential sales activity and home prices in Toronto continued to rise in September, keeping on pace for the second-best sales year, according to the Toronto Real Estate Board. There were 25% more sales last month compared to a year … Continue reading
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Mortgage Lenders Shifting Consumers from Variable to Fixed Mortgage Rates
A great shift is happening in the mortgage market as lenders are enticing Canadian consumers to deeply discounted fixed mortgage rates and away from variable mortgages. Low bond yields continue to provide lenders with room to manoeuvre and offer better … Continue reading
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