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August 2012 Rate Update

RATES & REAL ESTATE Nothing much is new in terms of rates. Currently, there is slight upward pressure; however, the consensus remains that rates will remain low for some time. The real estate market continues to receive press concerning the general overvaluation of the market , specifically Vancouver and Toronto. Economists predict a 10-15% decline […]

IMPORTANT! Mortgage Rule Changes

RULE CHANGES – EFFECTIVE JULY 9 2012 Please note that this only applies to new business and insured (high ratio) deals for the time being. The Bank of Canada’s hands are tied in terms of raising rates due to a struggling global economy. This persistent low rate environment has enticed CDNs to borrow more and […]

May 2012 Rate Update

RATES Rates haven’t moved a whole lot lately, which has been less exciting than the previous couple months where lenders were offering specials and aggressively competing for market share.  Fixed rates are still outperforming variable, generally speaking, and are extremely low by historical standards offering new and existing mortgage holders opportunities to lock in cheap […]

April 2012 Rate Update

RATE WARS OVER….FOR NOW Once again, we saw BMO come out with their “no frills” mortgage, which prompted other banks to offer temporary rate specials to compete for market share. These specials quickly disappeared and, seemingly, some of the more aggressive rate wars are over for the time being. Not much has changed on the […]

Mark Carney hints at higher rates

Hi, we’ve included a recent article from the Globe and Mail regarding CDN interest rates and market sentiment. Rates were left unchanged at today’s meeting; however, Carney hinted at rate tightening in the future given that it seems some of the economic slack has been disappearing. Read the full article below, thx – Gord, Steve […]

Mar 2012 Update: Harder Times for Self Employed Borrowers

SELF EMPLOYED BORROWERS – IT’S GETTING TOUGHER The banks & government are tightening lending requirements for self employed borrowers; specifically, those who write down their income substantially for tax purposes. When this happens borrower’s can take advantage of stated income/equity programs to secure mortgage financing. In a simplified way this means that, so long as […]

Low Rate & Changing Mortgage Rules

LOW RATE ENVIRONMENT & CHANGING RULES The recent announcement from the US Federal Reserve to not raise rates until 2014 coupled with the general weakness in the global economy is keeping mortgage rates down for Canadians. With such low rates, there are concerns about households being increasingly leveraged. Accordingly, mortgage rules/rates are constantly changing to […]

Rates may edge up from historical lows

Here’s an article from the Globe and Mail.  Basically, fixed rates have hit some historical lows recently because of the global economy. This has been great for borrowers; however, banks are starting to get rid of these so if you’re in the market for a renewal, refinance, or purchase it would be wise to lock […]


IMPORTANT RATE UPDATE Recently, we’ve received an abundance of calls from our existing and prospective clients regarding some recent news in the mortgage market. Routing Number VALLEY STATE BANK One of the large lenders has recently offered a 2 week 5 yr fixed promotional rate at 2.99%. HOWEVER, we caution you that you must read […]

Jan 2012 Rate Update

VARIABLE & FIXED RATE UPDATE Happy New Year! As we enter 2012, little has changed in terms of rates. The spread between the variable and fixed is still nominal making some fixed rates relatively more attractive when applying for/renewing a mortgage.  This, of course, depends on the specific situation of the client. Forecasts continue to […]