Today, Toronto Dominion Bank (TD) and The Royal Bank of Canada (RBC) increased their 5 year fixed rates by 0.6%, which is a significant increase. It is expected that other bank lenders will follow with their posted rates. These institutions usually price their discounted mortgage in relation to their posted mortgage rates, so it could… Read more »
Category: mortgage information
News and commentary on mortgages and real estate related matters.
Today could be the day you save yourself hundreds of dollars a month! This is a quick note for everyone that has a variable rate mortgage with a bank or credit union. With the anticipated rate increases coming soon and the opportunity to get locked in right now available, many of you may be thinking… Read more »
I came across the article Mortgages still the story of the day for the big banks in the Globe and Mail. It is a long article and the title of the article seems to not be entirely consistent with everything stated in the article (this seems to be pretty common practice in newspaper articles from… Read more »
I have now had some time to think about and digest more the changes that are coming April 19th to the mortgage rules, the ones that are published, and the ones that aren’t. Everyone is still cloudy on exactly how the changes will be implemented and additionally what effect it will have on the market,… Read more »
The government today announced a couple more changes that impact homebuyers beyond the announcements made several weeks ago. These changes will be likely adopted by the other two mortgage insurers in Canada, AIG and Genworth.