A total of three rate cuts passed down from the Bank of Canada since June have cumulatively lowered the cost of borrowing for Canadians by 75 basis points,…
Read more Why are mortgages so expensive in Canada? – MoneySenseAre more rate cuts likely? In announcing the rate cut Wednesday, Bank of Canada governor Tiff Macklem said if inflation continues to ease broadly in line with the…
Read more Variable mortgage rates regaining traction as Bank of Canada cuts rates – MoneySenseBut picking a fixed mortgage rate can be problematic if you decide to sell your house and are forced to break your mortgage contract in the middle of…
Read more What is porting a mortgage in Canada—and when should you do it? – MoneySenseBond yields have a “positive correlation” with fixed mortgage rates. That means when bond yields go up, so do fixed-rate mortgages, and vice versa. And since Canadian five-year…
Read more The after-effect of market lows: a drop in fixed mortgage rates – MoneySenseWhat to see the difference in a 25-year versus 30 year mortgage? Tap the filter icon on the far right to expand the data fields. Change the amortization…
Read more Should you get a 30-year mortgage? – MoneySenseThe housing supply issue is improving It comes after some of Canada’s largest cities have seen ballooning home listings in recent months from droves of sellers listing their…
Read more Rates are going down—is now a good time to buy a house in Canada? – MoneySenseFor most Canadians, using a broker is the wisest choice to save money, as they have access to a wider selection of products and should have more experience…
Read more Mortgage broker vs. bank—which will save you more money? – MoneySenseFredericton: Home prices poised to rise with rate cuts Fredericton marks the third and final city where the additional required income to purchase a home remains below $1,000.…
Read more How much income do I need to qualify for a mortgage in Canada? – MoneySenseIt’s been a tough time for home owners (and first-time home buyers), but the Bank of Canada (BoC) has held interest rates steady since July 2023, and the…
Read more Fixed or variable mortgage rate: Which should you choose in 2024? – MoneySenseHow you intend to use the property—i.e., for personal use (such as a second home or cottage) or as a rental or investment property. Whether or not the…
Read more Second mortgages in Canada: What are the rules? – MoneySenseAs an example, someone who considered themselves fortunate to secure a 5-year variable rate mortgage at 0.9% in early 2022 may have seen their interest rate soar to…
Read more Toronto housing bubble: Is it ready to pop? – MoneySense
