Fixed Rates and Bond Yields

In the past year we have seen fixed mortgage rates jump by 3% from the record low rates we had during the pandemic. At the same time variable rate holders have also seen substantial changes to their mortgage interest rates with the Bank of Canada increasing rates over 2% since its first increase back in … Continue reading Fixed Rates and Bond Yields

Fixed VS Variable- Which is right for you?

Fixed vs. Variable Rate Mortgages: What’s the Right Choice for You? When you're shopping for a mortgage, one of the decisions you'll face is whether to choose a fixed or variable (also known as adjustable) interest rate. Each comes with its own benefits, risks, and impact on your monthly payments and long-term financial goals. In … Continue reading Fixed VS Variable- Which is right for you?

Why are the Bank of Canada Interest Rates Increasing?

Why are interest rates increasing so rapidly? If you own a house or have been thinking about buying, rising interest rates is a hot topic. The 'interest rate' in question is the Bank of Canada's (BoC) policy interest rate, also known as the target overnight or benchmark interest rate. Changes in the BoC policy interest … Continue reading Why are the Bank of Canada Interest Rates Increasing?

Does your mortgage renew this year?

There are many Canadians whose mortgages are up for renewal this year. In 2014 the average discounted 5 year fixed rate was 2.81%, compare that with today's best averaging around 3.64% and  its no wonder that many Canadians are worried about their mortgage payments on their upcoming renewals. Over 3/4 of renewing mortgage holders are … Continue reading Does your mortgage renew this year?

Assumable Mortgages

With the latest increase in financing rates we might be hearing a lot more about assumable mortgages. An assumable mortgage is one that the lender allows another borrower to take over or assume the mortgage without changing any of the terms of the mortgage. The new applicant takes over the obligation for the payments left … Continue reading Assumable Mortgages

Mortgage Penalties

Often when looking at mortgage, many buyers 1st question is "what is your best rate?". While rate is certainly a consideration when choosing a mortgage product, knowing the features of the mortgage product should be top priority- because not all mortgage products or lender offerings are equal. In many cases, Canadians often end up paying … Continue reading Mortgage Penalties