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mortgage rate forecast

(March 03, 2018, posted in Mortgage misc)


Canadian mortgage rates have continued 2017’s upward trend. The five-year qualifying rate for insured mortgages bumped up 15 basis points to 5.14 per cent while discounted rates offered by lenders increased similarly to 3.39 per cent. The increases were driven by
the earlier than expected rate increase by the Bank of Canada in January. The Bank has now raised interest rates three times since last... read more.

tighter lending environment?

(January 25, 2018, posted in Mortgage misc)

 

On January 17, 2018, the Bank of Canada (BOC) raised its overnight interest rate 25 basis points to 1.25 per cent citing the growing economy and rising inflationary trends.

In anticipation of this increase, the six major banks raised their posted five-year, fixed-rate mortgage rates to 5.14 per cent from 4.99 per cent.

How will this affect mortgage holders?

All home buyers, even those who don’t requi... read more.

Decoding upcoming mortgage policy changes

(December 26, 2017, posted in Mortgage misc)


January must be right around the corner because, once again, Canadians are facing a momentous change in mortgage policy.

It's almost a tradition that Canada's mortgage czars clamp down on housing in the new year. This year is no exception with the federal Office of the Superintendent of Financial Institutions (OSFI) enacting the big kahuna of credit regulation, the uninsured mortgage "stress test... read more.

new mortgage stress test

(October 18, 2017, posted in Mortgage misc)


Effective January 1, 2018, home buyers who don’t require mortgage insurance — those with a down payment of 20 per cent or more — must qualify for their mortgage at a higher rate.

This new stress test won’t apply to people renewing their uninsured mortgage.

Canada’s Office of the Superintendent of Financial Institutions (OSFI) announced these rule changes October 17, 2017. 

Under the new rules, the mi... read more.

robo-mortgage advisers?

(August 14, 2017, posted in Mortgage misc)


Robert McLister, BBA, is the founder of mortgage rate comparison website RateSpy.com, Editor of Canadian Mortgage Trends and a mortgage planner at intelliMortgage.com. Robert analyzes mortgage rates and writes about a range of issues impacting mortgage consumers and today, in the Globe and Mail wrote the following.....

The leaders of the mortgage industry will soon be those at the top of the Google... read more.