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Category Archives: Mortgage Rates
How Reliable Are Forecasts (Weather or Interest Rate)?
Is it just me – or have you noticed the unpredictable weather and inaccurate weather forecasts lately? Are we supposed to wear shorts or winter boots? Forecasters can’t seem to get it right. Predictions for huge snow events don’t materialize … Continue reading
Posted in First Time Home Buyer, General, Mortgage Rates, Mortgage Strategies
Tagged forecast, mortgage, mortgage broker, Tracy Irwin
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Are You Waiting For Mortgage Rates to Go Down?
Last Wednesday’s announcement of a 25 basis point rate hike was disappointing. We’re all looking forward to lower mortgage rates in the future. The question isn’t IF rates will decrease – it’s WHEN. Some savvy soothsayers (a person who predicts … Continue reading
Are Your Seat Belts Fastened?
“Fasten your seat belts, it’s going to be a bumpy night” were the immortal words of Bette Davis in the 1950 classic movie, All About Eve. Know what else can be bumpy? Mortgage renewals. But they don’t have to be. … Continue reading
Posted in General, Mortgage Rates, Mortgage Strategies
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Feeling Squeezed?
Prepare Yourself: “We Are Not There Yet” Tiff Macklem, Governor of the Bank of Canada told the Senate committee on banking, commerce and the economy “This tightening phase will draw to a close. We are getting closer, but we are … Continue reading
Posted in General, Mortgage Rates
Tagged inflation, interest rates, mortgage financing
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The Good, the Bad, and the Awesome in Mortgage News…
The Good: It’s hard to believe that anything good could come out of the COVID-19 pandemic – and yet – a new analysis by rate comparison site Finder has found that Canadians saved approximately five times more of their disposable … Continue reading
Posted in First Time Home Buyer, General, Mortgage Rates, Mortgage Strategies
Tagged mortgage financing, Tracy Irwin
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How Your Credit Score Affects Your Mortgage Rate
When the Office of the Superintendent of Financial Institutions (OSFI) increased capital requirements on default insurers – and linked its capital formula to credit scores* – many securitizing lenders have opted to do two things: Thing One: set different rates … Continue reading
Will You Pass the Mortgage Rate Stress Test?
A doctor may prescribe a stress test to safeguard your health by monitoring breathing, blood pressure and heart rhythm. The Department of Finance is prescribing one to protect the financial security of Canadians and support the long-term stability of the … Continue reading
Scour, Score, Scrap, Scribe…
Newspapers, journals and websites are scoured daily. Content is scored for relevance, scrapped if redundant, and condensed so that only the most helpful information and commentary is presented to my readers. Grab your coffee, sit back and enjoy this excerpt … Continue reading
The Incredibly Shrinking Variable Discount
Fixed or variable? Fixed or variable? Everyone wants to feel as though they had made the best choice when deciding between a fixed or variable rate mortgage. In this economy however, there is no right or wrong answer. All the … Continue reading
Posted in Mortgage Rates
Tagged 5 year fixed mortgages, Bank of Canada, basis points, Canadian Mortgage Trends, choosing fixed or variable, discounted variables, fixed rate mortgages, interest rates, lenders, mortgage rates, posted rates, prime, prime minus, prime plus, prime rate, rate studies, save money on fixed rate mortgage, save money on variable rate mortgages, spread between fixed and variable rates, terms, variable rate mortgages
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