Let’s face it—nobody wants to overpay for anything, especially not the biggest loan they’ll likely ever take on. And while getting the lowest mortgage rate seems like a no-brainer strategy to save money, it's not the whole picture. Mortgages aren’t just about numbers—they’re machines full of moving parts, and unfortunately, banks are the ones who [...]
After seven straight rate cuts, the Bank of Canada has finally tapped the brakes—at least for now. The overnight rate remains unchanged, keeping prime rate steady at 4.95%. If you’re thinking, “Wait… I thought rates were going to keep falling?”—you’re not alone. It’s easy to get lulled into a false sense of security in a [...]
Since the start of 2025, fixed mortgage rates have dropped by about 0.50%. Compared to the peak in October 2023, we’re down 2.50%. That’s not just a dip – it’s a nosedive. We haven’t seen rates this low since in more than three years. But before you pop the champagne… We need to talk about [...]
Fixed mortgage rates are easy to understand: one rate, one payment. If you take out a $500,000 mortgage at 3.99% over 25 years, your monthly payment is going to be the same no matter which lender you go with. Simple, right? Variable rates, though? That’s where things get murky. Two lenders could offer you the [...]
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 there are now fixed rates as low as 3.74%... depending on your specific situation. When mortgage rates are in a downward trend, it can be [...]
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 due to the expiration of a temporary federal tax holiday. But Statistics Canada reports that inflation surged to 2.6%, the highest level in eight months. [...]
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 4.95%, once the banks and mortgage lenders follow suit—which typically happens within a few days. Just a few weeks ago, many were expecting the BoC [...]
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 and Mexico, effective March 4th., stating that "there is no room left" for a deal. The stock market immediately panicked, with the Dow Jones Industrial [...]
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 rates. Earlier this month, when Trump confirmed new tariffs on Canada and Mexico, Canadian bond yields took an immediate dive. Then, when he announced a [...]
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. While that might not seem like much, inflation would have been even higher if not for the federal GST holiday. The biggest driver? Energy prices, [...]
