Tag: interest rates

Mortgage Brokers are your personal shopper when it comes to mortgages. Brokers will have access to many lenders, each of them servicing a certain type of borrower. Brokers can present your application to the right lender, knowing which one will be a great fit. Using established relationships with lenders and presenting the file to them …

With new regulations, insured mortgages have a maximum 25 year amortization. Banks often choose to insure low ratio mortgages, and cover the cost themselves. Having insured mortgages allows banks to off load the risk and securitize these mortgages.

In October and November this year the Government of Canada made changes to mortgage insurance requirements. Mortgage insurance is provided by three companies in Canada. The biggest provider of mortgage insurance is CMHC a crown corporation. This insurance is paid for by the borrower and protects the lender in case of default. It reduces the …

As of Monday the best mortgage rate available on a four-year term came down 0.40% to dip under prime rate and station at 2.99%. This was the first mortgage rate change to be seen at CanEquity since the second week of September, wherein the best variable rate available rose 0.20%, while the two-year fixed rate, …

Bank Steadies itself as Possible Domino Effect Threatens European Economies What a large number of analysts have been predicting for months has proven true; the Bank of Canada has opted to keep its benchmark, overnight interest rate at 1 per cent. The rate announcement came with a message: at present, combating inflation needs take a …

Firm Declares Property Values no longer Sustainable The independent research firm Capital Economics has warned Canadians that housing prices are on the verge of a weighty fall, as stated in an article that appeared yesterday in the Financial Post. The firm’s report announced that property prices have “lost touch with fundamentals”. Coupled with record household …

Too often is the case that Canadians fail to review the terms of their mortgage contract, and contrast them with what is currently available on the market. Early renewal, and renewal in general, give you, the homeowner, an excellent opportunity to negotiate a lower rate for your next term. It also allows you to capitalize …