Mortgage Rates

The Effects of Rising Interest Rates
in Mortgage Rates

The Effects of Rising Interest Rates

Over the past few years we have seen a number of rule changes implemented by the federal government in an attempt to slow down the housing market. Some have worked out okay while others are seen as too far and unnecessary. We have debated these changes on this blog many times so we don’t want to re-litigate that again, however we do want to take...

Read More

0
19 Sep 2017
5 Year Fixed Rates Are Flying off the Shelves
in Mortgage Rates, Mortgages

5 Year Fixed Rates Are Flying off the Shelves

According to an article by MacLeans, Canadians are overwhelmingly choosing 5 year fixed rates over variable rate mortgages after the recent rate hikes by the Bank of Canada. This is not surprising for a couple of reasons. Let’s take a look at the options and why consumers are choosing to go the way they are. The Gap Between Fixed and Variable Rates This may be...

Read More

0
14 Sep 2017
Home Affordability Up in Alberta
in Blog, Mortgage Rates

Home Affordability Up in Alberta

With all the fears of a housing bubble in some markets in Canada, home affordability in Alberta has actually improved. Both Edmonton and Calgary saw the amount of home owners income needed to service an average home down 0.8%. Not exactly seismic, but every little bit helps, especially for first time buyers. What Home Affordability Means You will often here bankers talk about ratios, income...

Read More

0
28 Jul 2017
Bank of Canada Qualifying Rate Goes Up
in Blog, Mortgage Rates

Bank of Canada Qualifying Rate Goes Up

If you are in the market of buying a new home, and have less than 20% down payment, you are going to get less house today than you did yesterday. The Bank of Canada qualifying rate has gone up from 4.64% to 4.84%. This means regardless of the interest rate you take, you will be qualified at the higher rate, meaning you qualifying for less...

Read More

0
25 Jul 2017
Home Sales Dropping Across Canada
in Blog, Mortgage Rates

Home Sales Dropping Across Canada

Home sales across Canada took a dip in June, an indication that the housing market may finally be cooling off. With all the mortgage rule changes over the past year, and the foreign buyer taxes put in place it seems that it was only a matter of time before sales started to slow. With interest rates now rising for the first time in 7 years,...

Read More

0
19 Jul 2017
Rates Going Up, Home Owners in too Deep
in Mortgage Rates

Rates Going Up, Home Owners in too Deep

With interest rates on the verge of going up this week, for the first time in years, 25% of home owners say they already are in over their heads. This has to be concerning news for the bank of Canada. Many clients who are in fixed rate mortgages will have more time to get their financial house in order before their mortgage comes up for...

Read More

0
11 Jul 2017
Page 1 of 212