Mortgage Rates & Mortgage Broker News in Canada - Home Page
WEBMortgage rule changes will help spark demand, but supply challenges persist: experts. Experts say Ottawa's changes to mortgage rules could help spur demand among potential homebuyers, but supply challenges are likely to persist in Canada's real estate sector despite lofty goals to build new housing. September 16, 2024.
Rate Hike Expectations Grow, But How Long Will Higher Rates Last?
WEBApr 8, 2022 · Those choosing a long-term fixed rate run the risk of locking in at a peak, similar to what happened to borrowers in the spring of 2020 when fixed rates rose, but eventually fell back to record lows.
OSFI tweaks rules for readvanceable mortgages
WEBJun 28, 2022 · Starting in late 2023, OSFI said the principal portion of payments over 65% LTV will go towards paying down the overall debt and reducing the total readvanceable mortgage borrowing limit. For borrowers who want a readvanceable mortgage that readvances above 65% LTV, the only option will be a non-federally regulated lender, …
2022 Housing and Interest Rate Forecasts - Mortgage Rates
WEBDec 29, 2021 · 1.35%. 1.90%. Meanwhile, the bond market is maintaining its forecast for more aggressive rate tightening by the Bank of Canada. As of Tuesday, it is still fully priced in for five quarter-point rate hikes by the end of 2022, which would bring the overnight target rate to 1.50%. canadian housing forecasts housing forecast interest rates rate ...
Mortgage Industry News - Mortgage Rates & Mortgage Broker …
WEBSep 5, 2024 · Weekly mortgage digest: Fixed rates trending downward ahead of expected BoC cut. The latest happenings from within the mortgage industry. Here you’ll find a wide-ranging selection of stories focused on (but not limited to) the mortgage broker and lender communities in Canada.
Meet Bloom, Canada’s Newest Reverse Mortgage Provider
WEBSep 22, 2021 · “Canadians over 55 have more than $1 trillion of wealth built up in their homes, but many are retiring without enough savings to maintain their standard of living throughout their full retirement,” said Bloom founder Ben McCabe.
The State of the Residential Mortgage Market: 2020
WEBMar 26, 2021 · This, of course, had major implications for the mortgage market. Mortgage Professionals Canada’s Annual State of the Residential Mortgage Market in Canada report provided a detailed look at borrower behaviour and mortgage market trends in 2020. The comprehensive report, compiled by MPC’s chief economist Will Dunning, looked at …
2024 housing market and interest rate forecasts
WEBDec 27, 2023 · 2024 aggregate house price forecast by Q4: $843,684 (+5% year-over-year) Commentary: “We see 2024 as an important tipping point for the national economy as the majority of Canadians acknowledge that the ultra-low interest rate era is dead and gone,” said Phil Soper, President and CEO, Royal LePage.
Qualifying Rate - Mortgage Rates & Mortgage Broker News in …
WEBApr 30, 2018 · The same holds true if you get a variable rate or a fixed term under five years at most mainstream lenders. For example, suppose you apply for a 2.25% five-year variable mortgage. Lenders generally make you qualify at their posted 5-year rate (5.14% for example). “Qualify” means that you must prove you can afford a payment at that higher …
Mortgage Rates Keep Setting New Record Lows
WEBJun 30, 2020 · The lowest fixed mortgage rate currently available, according to rate comparison website RateSpy.com, is the 1-year fixed at 1.69% (for those putting down less than 20% or more than 35%). Even the often-shunned 10-year fixed rate is reaching new lows, currently available nationally as low as 2.84%. “Fixed rates are dirt cheap because …