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 […]

When news broke last week about CMHC limiting securitization guarantees, it was commonly viewed as a new attempt by Ottawa to clamp down on mortgages. In fact, it was an old attempt. The $85-billion MBS guarantee limit (the one that made headlines on Tuesday) was actually established earlier this year by CMHC and the Department of Finance. CMHC […]

Article from Canadian Finance Blog, Written by: Alan Schram For the most part, I think Canadians have the advantage over Americans. Our housing economy didn’t crash (completely), our banks don’t appear to be failing, and medical care is downright affordable. Everyone knows that they should be checking their credit report. A credit report is very, very important […]

  As expected, there was no change in the Bank of Canada press release. Bank prime remains at 3%.     This means no changes in variable rate mortgages or line of credit rates.   Five year money ranging from 3.39%-3.59% and 10 year money is at 3.99% –4.19%.    Below are the highlights of the […]

The interest rate market has remained steady the past 7 days. No changes in rates. There is not expected to be any changes with the Bank of Canada next week.   5 year funds are available in the 3.25-3.59% range.10 year funds are now in the 3.99- 4.19% range. Variable rate mortgages are available as […]

Bonds rates have steadied the past week. However, yesterday’s news contained reports that the US Fed may stop supporting their extraordinary stimulus in terms of their monthly purchase (85 Billion) of bonds. It will be interesting to see how the world markets react to this.5 year funds are available in the 3.04-3.29% range.10 year funds […]

Interesting article from The Financial Post… A  few days ago, Scotiabank received permission from the Securities and Exchange  Commission (SEC) to market to US retail investors what are known as covered  bonds. In pursuing SEC approval for market access, Scotia was following a trail  blazed by RBC (market rumour has it that BMO is on […]

The bond rates have shot up approximately 40 basis points the past 2 weeks. All lenders have raised their 5 year fixed rates at least once and most have had 2 increases. 5 year funds are available in the 3.09-3.29% range. For the moment,10 year funds remain unchanged as low as 3.69%. This will make […]

As expected, there was no change in the Bank of Canada press release. Bank prime remains at 3%.   This means no changes in variable rate mortgages or line of credit rates.   Five year money ranging from 2.89%-3.04% and 10 year money in the 3.69%-3.79% range.     Below are the highlights of the […]

Bonds were steady this week, but still creating upward pressure on fixed rates. So far, no more changes; however, any further upward movement will likely result in all lenders adjusting their rates. The Bank of Canada meets next week and no changes are expected at this time.5 year funds are available in the 2.84-2.99% range, […]