Mortgage Blog

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Why Are Mortgage Rates Rising?

Why Are Mortgage Rates Rising?

April 2, 2020 | Posted by: Lam Lee

Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have red ...

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INTEREST RATES NOSEDIVE AS BANK OF CANADA CUTS RATES 50 BPS

INTEREST RATES NOSEDIVE AS BANK OF CANADA CUTS RATES 50 BPS

March 5, 2020 | Posted by: Lam Lee

The Bank of Canada Brings Out The Big Guns Following yesterday’s surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signalled it is poised to ...

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MORNEAU EASES STRESS TEST ON INSURED MORTGAGES

MORNEAU EASES STRESS TEST ON INSURED MORTGAGES

February 20, 2020 | Posted by: Lam Lee

The federal government announced on Tuesday it will be changing the benchmark qualifying rate used for Canada’s insured mortgage stress test. The change, which will take effect April 6, 2020, m ...

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TD LOWERS QUALIFYING MORTGAGE RATE 35 BPS TO 4.99%

TD LOWERS QUALIFYING MORTGAGE RATE 35 BPS TO 4.99%

February 4, 2020 | Posted by: Lam Lee

CANADIAN QUALIFYING MORTGAGE RATE LOWERED TO 4.99% Market interest rates have fallen sharply since the coronavirus-led investor flight to the safety of government bonds. The 5-year government bond yi ...

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Bank of Canada Holds Steady Despite Economic Slowdown

Bank of Canada Holds Steady Despite Economic Slowdown

January 27, 2020 | Posted by: Lam Lee

In a more dovish statement, the Bank of Canada maintained its target for the overnight rate at 1.75% for the tenth consecutive time. Today’s decision was widely expected as members of the Govern ...

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HOW TO VERIFY YOUR DOWN PAYMENT WHEN BUYING A HOME

HOW TO VERIFY YOUR DOWN PAYMENT WHEN BUYING A HOME

December 17, 2019 | Posted by: Lam Lee

Saving for a down payment is one of the biggest challenges facing people wanting to buy their first home.To fulfill the conditions of your mortgage approval, it’s all about what you can prove (h ...

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6 THINGS ALL CO-SIGNORS SHOULD CONSIDER

6 THINGS ALL CO-SIGNORS SHOULD CONSIDER

October 22, 2019 | Posted by: Lam Lee

Co-signing on a loan may seem like an easy way to help a loved one (child, family member, friend, etc. ) live out their dream of owning a home. In today’s market conditions, a co-signor can offe ...

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MORTGAGE RENEWALS WITH THE SAME LENDER ARE ON THE RISE, BUT SHOULD YOU JUST SIGN ON THE DOTTED LINE?

MORTGAGE RENEWALS WITH THE SAME LENDER ARE ON THE RISE, BUT SHOULD YOU JUST SIGN ON THE DOTTED LINE?

October 17, 2019 | Posted by: Lam Lee

If you’re in a mortgage that’s coming up for renewal in the coming months and you’re considering just staying with your current lender, you wouldn’t be alone.According to the C ...

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5 WAYS YOU COULD USE A CHIP REVERSE MORTGAGE

5 WAYS YOU COULD USE A CHIP REVERSE MORTGAGE

October 3, 2019 | Posted by: Lam Lee

Reverse mortgages are continuing to grow as a retirement solution for Canadians 55+. Homeowners 55+ are unlocking their home equity for tax-free funds that improve their cashflow and pay-off higher in ...

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5 MISTAKES FIRST TIME HOME BUYERS SHOULD AVOID

5 MISTAKES FIRST TIME HOME BUYERS SHOULD AVOID

September 24, 2019 | Posted by: Lam Lee

Buying a home might just be the biggest purchase of your life—it’s important to do your homework before jumping in! We have outlined the 5 mistakes first time homebuyers commonly make, and ...

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