As we recently heard, another interest rate hike from the Bank of Canada means some Canadians could be spending a lot more on their monthly mortgage bills. According to industry professionals, it seems that variable- rate mortgage holders will be the most impacted. “It’s all but certain that when the Bank of Canada makes this announcement, the…
To refinance your mortgage, you will need to adhere to the terms and conditions outlined by your lender. The process may feel overwhelming to some. However, by taking the time to think things through, you should be able to complete the process without much effort. Refinancing your mortgage is essentially replacing your existing mortgage with…
Variable rate mortgages are surging as Canadians pile on the cheap debt, betting that we won’t see a Bank of Canada interest rate hike until the end of next year. The national bank recently noted that more than half of new mortgages made by banks, including renewals and refinances, were variable rates in July. With…
The Bank of Canada is ending one of its emergency measures to stimulate the COVID-19 economy, leading to speculation that the era of record-low mortgage rates could be ending, too. What’s more likely, mortgage experts say, is that the central bank’s decision to stop buying Canada Mortgage Bonds on Oct. 26 will usher in a…
