Fixed mortgage rates continue to set new historical lows, and have been dropping almost weekly since late spring. But has the downward mortgage rate spiral come to an end? Fixed mortgage rates are heavily influenced by bond yields. Bond yields are influenced by the economy. Therefore, mortgage rates can be directly tied to economic performance. [...]

With mortgage rates reaching new historical lows, pretty much everyone in a fixed rate mortgage is paying a much higher rate than what’s available in today’s market. With 5 year fixed mortgage rates now as low as 1.49%*, you may be wondering if it makes sense to make a move. Most people are drawn towards [...]

It’s hard to believe that we’re almost halfway through the fall season and that Halloween is only a few days away. Time really does fly. While we prepare for the arrival of the witches, ghouls and goblins (referring of course to the candidates running in the US federal election), the Bank of Canada announced this [...]

The first quarter of 2020 was a roller coaster for mortgage rates. In February, they were falling faster than anyone could keep up. This made it difficult for industry professionals and mortgage rate shoppers alike.  How do you know you’re getting the lowest rate when your quotes are out of date potentially within hours?  In [...]

There are many choices involved with setting up your mortgage, which can make selecting the right mortgage an overwhelming process. Do you go to a bank or a broker? Who is the best lender with the lowest mortgage rate? Should you go with a 25 year or 30 year amortization? Do you choose a fixed [...]

There are two ways in which a mortgage lender can register your mortgage. As a standard charge, or as a collateral charge. A charge is just another way of saying ‘registration’. For example, a mortgage is a charge against your property. Let’s take a look at each one in detail to give you a better [...]

If you are like most, the first question that you’ll ask a mortgage professional is “what is your best mortgage rate.” While rate is a highly important component, there several other important factors that need to be considered when shopping for a mortgage. Contrary to popular belief, rate is not the most important one. There [...]

There used to be a time when each lender had a single rate for a 5 year fixed mortgage. If someone inquired on the lowest rate, we would simply quote them the lowest rate. In today’s mortgage world, mortgage rate quoting has become more complex. An individual lender could have as many as seven different [...]

Pretty much all variable rate mortgages can be converted into a fixed rate at any time during the term, and at no cost. In a typical market, variable rate mortgages are generally priced a fair bit lower than fixed rate options. There is also room for prime rate to move in either direction. This is [...]

This morning marked the eighth interest rate announcement of the year by the Bank of Canada. Usually we don’t see the eighth announcement until December, but given that the BOC had two unscheduled rate announcements back in March, we’ve hit the eighth announcement early this year. Yay. In most years, there are eight interest rate [...]