The 10-year fixed-rate mortgage has generated renewed interest lately as borrowers look to lock in for the long term and enjoy the security and peace of mind this brings. With mortgage rates at all-time lows, it turns out that fashion isn’t the only thing that comes back into style! In fact, 10-year fixed mortgage rates […]

Mortgage rates remained unchanged over the past week. The bond rate has been creeping up and hit a new high for 2012. There has been a great deal of news in the different media’s recently, about the potential for higher rates during 2012. Last Friday at a industry conference, Genworth Canada predicted slight increases (around […]

As expected there was no change in the Bank of Canada this past week. They certainly set the stage for some possible increases in the future. The bond rate remained flat the past 7 days, therefore no changes in the fixed term mortgage rates. We still have 2 lenders offering 10 year funds at 3.89%. […]

Bank of Canada Maintains Overnight Rate Target at 1%                              The Bank of Canada maintained its target rate. It is worth reading the final paragraph(below) as it mentions possible withdrawal of “monetary policy stimulus”, meaning rate hikes are possible in the near future. “Reflecting all of these factors, the Bank has decided to maintain the target […]

The past week saw bond rates hit a new high for 2012. They have moved up approximately 30 basis points the last 2 weeks. There is a chance of a rate increase on fixed rate mortgages at any time. Overall rates continue to be extremely low. If you have a variable rate of any more […]

With mortgage rates still hovering near historic lows, chances are you’ve considered breaking your current mortgage and renewing now before rates rise any further. Perhaps you want to free up cash for such things as renovations, travel or putting towards your children’s education? Or maybe you want to pay down debt or pay your mortgage […]

Did you know…You can find out your Financial Fitness Score to help discover how financially fit you are. This Financial Fitness Score, the first of its kind in Canada, is available online at www.financialfitness.ca. The score is based on attitudinal and behavioural questions that were developed from financial fitness data collected in a survey sponsored […]

With the continued focus on the European Debt situation, bond rates hit the low mark for this year. This bodes well for long term rates staying low for the immediate future. No changes in the fixed or variable rates. If you have a variable rate of any more than prime +.75 or a fixed rate […]

The bond rate stayed low and stable all week. Continued concerns over the European Debt situation (now Italy) has kept it extreme low. There have been a few minor rate drops this week. Five year mortgages can be obtained as low as 3.29% (some conditions apply).   If you have a variable rate of any more […]

Planning ahead to ensure your credit is healthy before applying for a mortgage can translate into a better mortgage rate and products, which can save you significant money throughout the term of your mortgage. Following are five steps you can use to help attain a speedy credit score boost: 1) Pay down credit cards. The […]