—The Mortgage Report: Aug 21— Boldly Going Where No 5-Year Fixed Rate Has Gone Before For the first time, pricing on Canada’s most in-demand term is now effectively as low as 1.59%. That’s for default-insured 5-year fixed mortgages in Ontario. Consider that just 18 months ago rates were double what we see today. On the uninsured side, we’re getting multiple...
The Mortgage Report – May 27 Shop Rates, Says Bank of Canada: “The price of a mortgage can vary a lot among lenders…You’ll most likely find a lower interest rate if you do your homework and are willing to negotiate.”—Bank of Canada The BoC Does Move Fixed Rates: It’s a misconception that the Bank of Canada only influences variable mortgage...
Hopefully Not Reality: Despite the government’s relief plan, including mortgage payment deferrals—1 in 10 (9%) of mortgagors say they won’t be able to pay their mortgage in three months or less (Source: DART & maru/BLUE Survey). Few in the industry expect anywhere near 9% defaults, but the numbers we do get may surprise people. Back in the 1980s, prime mortgage...
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