TD and RBC mortgage rates up, following other banks For the most part, Canada’s largest bank is increasing the rates by 20 basis points, with its fixed five-year closed mortgage rising to 5.34 per cent and its five-year special rate to 3.89 per cent. The rate changes are effective Thursday. Canada’s new mortgage reality By Brenda Bouw | Balance Sheet The days of rock-bottom mortgage rates […]
New mortgage rules deny 1st-time homebuyers a roof over their heads ?
New mortgage rules pushing 1st-time homebuyers to wait CBC News Some first-time buyers are waiting longer to get into the market, especially in British Columbia. A year after Finance Minister Jim Flaherty tightened mortgage rules to not allow insured mortgages with amortization terms of more than 25 years, many prospective buyers say they are waiting […]
Mark Carney – You can’t teach an old dog new tricks, can you ?
Mark Carney’s gift to UK – “$trillion mortgage insurance borne by taxpayers” ? U.K. interest policy very Canadian Carney brings Bank of Canada style to statement on long-term key rate of 0.5% Mark Carney, the new governor of the Bank of England, is taking a Canadian approach in his first act as governor. OTTAWA — Mark […]
Is this a trick to get people to rush in to buy a home ?
Banks threatens mortgage rate will go up (so that people will buy a home quickly) as a trick to fulfill their mortgage quota (shortfall) ? I won’t be surprised. Banks did just that a few years ago … Probably more than once and the interest never ever go up, only down (until today). First-time home […]
Why the Rising Mortgage Rates don’t Spell Disaster ?
By Canadian Mortgages Inc. It was the beginning of last month when bond prices plunged and RBC increased mortgage rates in response. Not too long after Scotiabank and TD followed suit. But while homeowners and home buyers are groaning about these higher mortgage rates, they’re not all bad. And in fact if you look at […]
Mortgage Rate Hike = Interest Rate Up = Home Prices Down ?
First, they say Canadian mortgage rates on the rise … Canadian mortgage rates on the rise Mind you, the hike is solely to increase the already fat profit margin of banks, it has nothing to do with interest rate, not yet. For the record, interest is still the same old artificially suppressed rate we have […]