Bond yields dove over 30 basis recently as economic worries start to replace inflation concerns. Bond yields, which lead fixed mortgage rates, fell to 2.84% down from 3.15% and well off the 3.59% high reached in mid-June. The decline comes due to growing expectations of an economic downturn. Rate analyst Rob McLister, editor of MortgageLogic.news, said…
Most big mortgage lenders, including all of the Big 6 banks, have hiked fixed rates once again over the past several weeks. In many cases, they’ve also reduced their variable-rate discounts, making variable-rate mortgages slightly pricier for new borrowers. Most of the fixed-rate increases were in the range of 15 to 20 bps, although Scotiabank…
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…
Nobody likes to spend more for their daily expenses, so last week’s news of the 3.7% inflation rate was not well received. According to Statistics Canada, it was the largest annual spike since October 1987. A lot of attention has been paid to the rising costs of food or used cars, as well as in…
The Bank of Canada took a step towards easing pandemic stimulus — the biggest yet by a major economy! Not only did it say it would reduce purchases of government debt (which was expected), it also brought forward its timeline for a possible rate hike. Previously, the Bank had forecast that slack in the economy…
After an off-topic blog about mental and physical wellness last time around, we are back discussing a very important topic regarding the economy and banking’s effect on our real estate market. There are some more news coming out about the stress-test regulations this year. Sadly, it’s going to be even more difficult for younger people…
Most people experience a point in their lives when they need access to a large amount of cash, whether it be for a major purchase, home renovation, investment or an emergency. When you don’t have the funds on hand, you can always access the equity in your home through a cash-out mortgage refinance. As the value…
2014 is almost half way over but do not fret, it is not too late to implement some changes to aid your mortgage. Keep organized and you can still obtain as good mortgage deals. Here are 7 mortgage tips for the rest of 2014. Due to the new mortgage regulations implementing in 2014, lenders are extra…
When your mortgage term is about to expire, it’s best to start considering renewing your mortgage. But you may be wondering when the best time to renew is – sooner or later? There are always two sides to every coin; there are benefits and consequences to every choice.
