home buyers News and Articles | My Blog
Fixed mortgage rates are rising. What's the deal?
4/18/2024 | Posted in Home Buyers by Paul DeAdder
As variable-rate mortgage holders eagerly anticipate the Bank of Canada’s first rate cut, fixed rates are heading in the other direction: up.
... MoreVariable or short-term fixed mortgage? Where experts see the "sweet spot"
3/13/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More
One-third of Canadians considering alternative home ownership models amid low affordability
2/27/2024 | Posted in Home Buyers by Paul DeAdder
One third of Canadians are considering alternative home ownership models, a new survey has found, as purchasing a home remains out of reach amid an ongoing affordability ... More
Tax advantages driving exodus from Canada's priciest housing markets
2/6/2024 | Posted in Canada Living by Paul DeAdder
A new report published today reveals that the burden on buyers from provincial governments’ billions of dollars in levies and development fees on new construction, and ... More
Rise in bond yields could send fixed mortgage rates higher, experts say
1/18/2024 | Posted in Mortgage Interest Rates by Paul DeAdder
This week’s rise in bond yields could cause some lenders to reverse recent fixed mortgage rate cuts, experts say.
... More'A buyers' market with no buyers': CIBC economist on housing market
12/13/2023 | Posted in Canadian Housing Market by Paul DeAdder
Some home sellers are struggling to find buyers amid high mortgage costs, according to an economist who says Canada’s housing market is in the midst of “a very ... More
Latest in Mortgage News: OSFI leaves stress test rate unchanged
12/13/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s banking regulator confirmed it will leave the mortgage stress test for uninsured mortgages unchanged.
... MoreNew mortgage activity slowing - but debt continues rising, says CMHC
11/9/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Residential mortgage debt in Canada totalled $2.14 trillion as of August this year, up by 3.4% compared with the same month in 2022 as the value of uninsured mortgages ... More
Latest in mortgage news: Mortgage rates keep surging higher
9/29/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week with as bond yields continue to rise.
... MoreMortgage interest costs now up over 80% since the start of the BoC's rate hikes
9/14/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ... More
Investors have increased their share of mortgaged homebuyers
9/12/2023 | Posted in Real Estate Investments by Paul DeAdder
Investors in Canada’s residential real estate market accounted for a larger share of mortgaged purchases than repeat homebuyers in recent years despite rising interest ... More
OSFI seeks to address problem of fixed-payment variable-rate mortgages
9/8/2023 | Posted in Home Buyers by Paul DeAdder
It’s no secret that Canada’s banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that ... More
No end in sight to housing affordability crisis, says BMO's Guatieri
8/28/2023 | Posted in Canadian Housing Market by Paul DeAdder
The Bank of Canada's June and July interest rate increases essentially put a stop to the housing market’s recovery, says analyst.
... MoreCanada's mortgage stress test: Obsolete or still doing its job?
8/14/2023 | Posted in Home Buyers by Paul DeAdder
Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer ... More
What impact might OSFI's new proposals have on borrowing costs?
7/26/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise.
... MoreWhat mortgage owners need to know about the Bank of Canada's rate hike
7/13/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of ... More
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
7/12/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy ... More
Fixed mortgage rates surge again, pushing rates under 5% to the brink
6/16/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory.
... MoreDemand grows in Canada for short-term fixed-rate mortgages
5/17/2023 | Posted in Home Buyers by Paul DeAdder
A string of aggressive interest rate hikes from the Bank of Canada is driving short-term fixed-rate mortgage demand higher, according to a new survey.
... MoreLenders - including some big banks -are hiking fixed mortgage rates again
5/29/2023 | Posted in Interest Rates by Paul DeAdder
The past two weeks have seen a flurry of mortgage rate increases at mortgage lenders, including several of the Big 6 banks.
... MoreMortgage rates are rising in Canada despite virus-relief cuts
3/31/2020 | Posted in Mortgage Interest Rates by Paul DeAdder
Canada’s mortgage rates are creeping up even though the country’s central bank has slashed borrowing costs to combat the COVID-19 pandemic.
... MoreBig Six banks to allow 6-month mortgage payment deferral
3/18/2020 | Posted in Mortgage News by Paul DeAdder
Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers.
... MoreOSFI considering new benchmark rate for uninsured mortgages
2/19/2020 | Posted in Mortgages and Real Estate by Paul DeAdder
The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for ... More
2/10/2020 | Posted in GTA Real Estate by Paul DeAdder
Mortgage stress test forces homebuyers further outside GTA to find house they can afford.
... MoreFive Things Every New Condo Buyer Should Know
1/3/2020 | Posted in Home Buyers by Paul DeAdder
Have you decided to purchase a new condo? Consider these things to ensure you understand your rights as a new home buyer.
... MoreOwning a home is a pipedream for many Canadian millennials
12/13/2019 | Posted in Home Buyers by Paul DeAdder
Millions of Canadian millennials feel they may never be able to follow previous generations into homeownership according to a new survey.
... More11/25/2019 | Posted in Canadian Housing Market by Paul DeAdder
Canadians are satisfied with their homes and neighbourhoods but will probably not stay put according to a new survey.
... MoreMore Fed cuts expected to push Canadian interest rates lower
9/19/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Great News for Canadians waiting for lower rates as the effects of shrinking global economy to hit Canada as well.
... MoreSoaring House Prices Could Return As Interest Rates Head To Zero: BMO
8/10/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
The recent slowdown in Canada’s hottest housing markets is turning a corner and a potential new price boom is threatening to frustrate would-be buyers’ hopes.
... MoreCanadian mortgage borrowers have a 'rare opportunity'
9/6/2019 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada's mortgage market has been turned upside down, and it's giving borrowers an uncommon advantage, a new report suggests.
... More