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Mortgage Rates Now Below 4%… But Don’t Get Too Comfortable
Fixed mortgage rates have fallen substantially since they hit their peak in October 2023. At the time, pretty much all fixed rates were over 6%. Fast forward to today, and [...]
What Canada’s Inflation Spike Means for Mortgage Rates
The latest Canadian inflation numbers for February are in, and they were higher than expected—to say the least. Economists predicted inflation would land at 2.2%, up from January’s 1.9%, largely [...]
Mortgage Rates on the Move: Another BoC Cut & More to Come?
Well, here we are again. The Bank of Canada (BoC) just delivered another 0.25% rate cut this morning, marking their seventh consecutive cut. This brings the prime rate down to [...]
When Will Trump Realize That Tariffs Are a Mistake?
It’s almost impressive how Trump manages to create chaos where none previously existed. On Monday, March 3rd, he announced that a 25% tariff would, in fact, be slapped on Canada [...]
Trump’s Tariff Tango and Canadian Mortgage Rates
Every time Donald Trump starts talking tariffs, the markets go on a rollercoaster ride. And for Canadians, that means one thing—bond yields drop, which puts downward pressure on fixed mortgage [...]
Higher Inflation Lowers the Odds of a March Rate Cut
January’s inflation numbers are in, and they’re not exactly what the Bank of Canada (BoC) was hoping for. Headline inflation ticked up by 0.1% to 1.9%, according to Statistics Canada. [...]
Mortgage Rate Madness: Where Are We Really Headed?
With all the buzz about falling mortgage rates, the idea of rate increases feels like something out of an alternate universe. But here’s the truth: even when rates are trending [...]
The Effect of Trump’s Tariffs on Canadian Mortgage Rates
If there’s one thing Donald Trump loves, it’s making headlines. Whether it’s a surprise announcement, a bold policy move, or a sudden change of heart, he knows how to keep [...]
Another Rate Cut from the Bank of Canada! What’s Next?
As widely expected, the Bank of Canada has announced a 0.25% cut to its overnight rate in its first scheduled announcement of 2025. This marks the sixth consecutive cut, bringing [...]
Shrinking Discounts on Variable Rate Mortgages
As we prepare for the Bank of Canada to continue with their rate cuts, mortgage lenders have now started reducing their variable rate discounts off prime rate. In other words, [...]
Choosing a Variable Rate Mortgage in 2025
Since the Bank of Canada’s aggressive rate hikes in 2022, variable rate mortgages became as popular as flip flops in a snowstorm. Given that the prime rate had increased faster [...]
What to Expect from Mortgage Rates in 2025
Happy New Year! It’s hard to believe we’re stepping into 2025 already. Time sure flies! 2024 was an exciting year for the mortgage market, as many Canadians eagerly awaited rate [...]
Bond Yields Continue to Rise Despite BoC Rate Cut
The Bank of Canada handed out an early holiday gift on December 11th with a much-anticipated 0.50% rate cut. If you have a variable-rate mortgage, you’re probably smiling as your [...]
Oversized Rate Cut from the Bank of Canada
As expected, the Bank of Canada announced that they are cutting their overnight rate by another 0.50% this morning. As the standard movement is 0.25%, anything greater is considered an [...]
Where Are Mortgage Rates Heading Over the Next Two Years?
The prospect of lower mortgage rates always brings excitement, especially as the Bank of Canada has already reduced its rate by 1.25% this year. With additional cuts projected into 2025, [...]
Bank of Canada Rate vs. Fixed Mortgage Rates: What You Need to Know
Many clients tell us they’re waiting for the next Bank of Canada rate announcement before locking in a fixed mortgage rate. However, it’s important to understand that fixed rates don’t [...]
No More Stress Test on Mortgage Transfers
Since 2018, anyone applying for a mortgage in Canada has been required to pass a mortgage “stress test.” This test ensures borrowers qualify at a higher interest rate than the [...]
Switch Your Mortgage to a Lower Rate and Save Thousands
If you locked in your mortgage during the latter half of 2023 or the first half of 2024, there’s an exciting opportunity to potentially save thousands of dollars by switching [...]
Trump Wins – Fixed Mortgage Rates Expected to Rise
It seems like just about everyone was following the US election last night. As I mentioned in last week’s blog, a Trump victory would likely trigger an increase in bond [...]
Is a 3 Year Fixed Still the Best Choice?
Since October 2023, fixed mortgage rates have dropped by about 2.00%, creating a buzz among homeowners and buyers. Now, with predictions that the Bank of Canada may lower its rate [...]
Bank of Canada Cuts Rate by 0.50%
The Bank of Canada has cut rates by 0.50%, a move that was widely anticipated. While there were some signals that they might take a more conservative approach, the drop [...]
What to Expect from the Bank of Canada Announcement Next Week
Everyone loves to speculate about mortgage rates, but predictions aren't facts. Lately, there has been a lot of talk about the Bank of Canada (BoC) cutting rate by 0.50% on [...]
Big Increases to Fixed Mortgage Rates
Just last week, I wrote about mortgage rates falling faster than expected, but today we’re facing a sudden spike in fixed mortgage rates. So, what’s behind this shift? Last week, [...]
Mortgage Rates Falling Faster Than Expected
As we enter the fourth quarter of 2024, mortgage rates continue to fall. Fixed mortgage rates have already fallen by greater than 1.75% since they hit their peak in October [...]
Do Not Renew Your Mortgage Early
Let’s say you’ve got six months until your mortgage renewal, and suddenly your bank calls with what they’re calling a ‘special rate’ if you renew early. It sounds like an [...]