Ultra-low but, apparently, unstable interest rates have Canadians favouring fixed-rate mortgages over variable by a ratio of nearly 2-to-1. A new survey, conducted by Nielson, for one of the country?s big banks suggests 57% of homebuyers would pick a fixed-rate mortgage over variable, desiring certainty in their payments. That?s up from 48% last year and […]

Wow! With a 9% housing price increase over last year, Toronto is now Canada’s first $1 million housing city (at least for detached homes). What does this mean for Torontonians? Interestingly…This means that most first time home buyers and experienced home buyers in Toronto will have to have $200,000 in savings or gift funds to […]

The Bank of Canada did not change their Prime Lending Rate at this mornings announcement. Prime Rate holds at 2.85% 5 Year Qualifying Rate has been reduced to 4.74%  www.bankofcanada.ca/2015/03/fad-press-release-2015-03-04/  If you have any questions about market trends please give us a call. Cory Kline, AMP Mortgage Planning Since 1998   –  VOTED: Barrie’s Best Mortgage Professional, […]

For Immediate ReleaseMarch 4, 2015 Vancouver, B.C.- Dr. Sherry Cooper, Chief Economist for Dominion Lending Centres (DLC) was expecting the Bank of Canada to leave interest rates unchanged today in the wake of the surprising rate cut in late January. Governor Stephen Poloz signaled this wait-and-see stance last week, following criticism that his surprise move […]

Wishing everyone a very safe and happy holiday season! Cory Kline, AMP Mortgage Planning Since 1998   –  VOTED: Barrie’s Best Mortgage Professional, by the readers of the Barrie Examiner. Neighbourhood Dominion Lending Centres – Barrie Office   Cell / Text: 705-794-1283 Fax: 1-877-812-6190 cory@ndlc.ca    www.MortgageAndLifestyle.com   Mortgage Agent, FSCO # M09001239 Brokerage FSCO Lic. # 11764 […]

Bond rates have continued to inch downward the past week. If this continues, we will likely see some further softening of long term rates. Several lenders did lower their rates by 10 basis points. 5 year rates continue in the 3.49-3.89%. Variable rates are increasingly becoming a more attractive option for many, with rates in […]

No change! Rates have remained steady this past week as a result of very little movement in the bonds.    5 year funds are available in the 3.69-3.89% range.10 year funds are in the 4.39% range.Variable rate mortgages are available as low as 2.55%.  If you have a variable rate of any more than prime […]

There was no change in today’s press release. Their overall message of keeping Bank prime the same has not changed. Bank prime remains at 3%.     This means no changes in variable rate mortgages or line of credit rates.   Five year money ranging from 3.59-3.89% and 10 year money from 4.19% range. Variable rate mortgages are […]

Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals to fall apart.   When a bank pulled the financing  from one buyer at the last minute, it caused all the deals to fall apart because  each one was contingent on the previous seller getting the […]

Fixed mortgage rates have been on a steady ascent since bond yields blasted off in May. Now, the major banks are jacking up rates again. Most of the Big 6 are lifting their “Special offer” 5-year fixed mortgages to 3.79% or 3.89%, a 20 basis point hike.  Royal Bank also announced a 20 bps hike in its […]