Here’s a summary of some of the news that caught our eye this week:
Mortgage rate trends
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There could be an 8% decline in housing market activity due to new mortgage rules, according to a report from Mortgage Professionals Canada (MPC).
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This month, a couple of Canada’s Big Five banks announced they were increasing mortgage rates. Does that mean rates will keep rising?
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Low interest rates are having a positive impact on how quickly Canadians are paying down their mortgages, finds a report from Mortgage Professionals Canada (formerly CAAMP).
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“Barring a recession, don’t expect [interest rates] to go any lower.” –TD Economics Since the Bank of Canada announced it was keeping the benchmark overnight rate at 1.0% last week, most lenders did not move their … Read More
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Good news may be on the way for mortgage-rate shoppers. Several Government of Canada (GoC) bond yields, which drive fixed mortgage rates, dropped at the end of last week. It was a relatively minor drop, but … Read More
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The annual inflation rate dropped back down below the three percent mark to 2.90% in October, which in all likelihood diminishes most rate cut expectations going forward. It’s important to note that the inflation rate is … Read More
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Variable rate mortgage are starting to climb again as they made a big jump from last week (up 22 basis points). Discounts on 5-year variable mortgages have been steadily climbing since the end of the summer. … Read More
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The major mortgage news from last week was the Bank of Canada’s interest rate announcement that saw the overnight rate remain at 1.0%. There wasn’t much movement from 5-year fixed mortgage rates last week as 5-year … Read More
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As a commentator in the mortgage space and a hub for comparing mortgage rates in Canada, we get asked a lot of questions about the direction of mortgage rates. The most common iteration is: “When will … Read More