Rate Conversions: Now Over-rated: Today’s best variable rates give borrowers a half-point head start versus a 5-year fixed. If one assumes the latest widely-held rate forecasts are correct (see below),...

Stock Losses Cut in Half: In another hint that the worst may be over in the COVID crisis, one of the most-watched stock indices in the world—the S&P 500—has retraced...

Variable Discounts Start Improving: This week, we reported that falling risk premiums are helping to lower costs for mortgage lenders. And it’s starting to pay off. In the last few...

Good News for Variables: There’s hope for better variable rates yet. The “prime – BA spread” is widening (getting bigger). That means banks may soon be making more money on...

Optimism Returns: Markets rose across the board Monday, including 5-year rates in Canada’s bond market. Normally that would put upward pressure on funding costs, and hence fixed mortgage rates. But...

3:14 p.m. Update A Half Million Mortgage Deferrals: That’s what banks are up to now, says the Canadian Bankers Association. And that doesn’t include non-bank lenders. More than 10% of...

4:47 p.m. Update Rubber Stamping: TD’s CEO says the bank is approving “virtually all” mortgage deferral requests. It has approved 60,000 so far. “If this [crisis] continues for a longer...

Sub-1% Rates: One of the greatest economic tragedies in Canada’s history is unfolding before our eyes. When we talk about how low mortgage rates are, it can’t be stressed enough...

11:23 a.m. Update Notable Moves: The day’s top rate changes: BMO lowers its posted variable rates by 50 bps in line with the drop in prime: 3yr open: 4.65% to...

11:53 p.m. Update Fleeting Deal: Canada Life’s stellar 5-year fixed deals (2.34% insured and 2.49% uninsured) could vamoose this week. If a fixed 5-year is suitable for your circumstances and...