Mortgage Rates & Mortgage Broker News in Canada - Home Page
Bank of Canada expected to cut rates by 100 bps before pausing, financial experts say. ‘2025 will be a better year:’ 5 broker takeaways on market trends, tech, and client relationships. First National sees potential gains from recent mortgage rule changes. Calgary sees sales surge for homes over $600K, lower-end supply tightens.
2024 housing market and interest rate forecasts
Dec 27, 2023 · 2024 aggregate house price forecast by Q4: $843,684 (+5% year-over-year) Commentary: “We see 2024 as an important tipping point for the national economy as the majority of Canadians acknowledge that the ultra-low interest rate era is dead and gone,” said Phil Soper, President and CEO, Royal LePage.
MCAP to Acquire Paradigm Quest and Merix
Jul 14, 2021 · Canada is about to have a new #1 non-bank lender. MCAP announced today that it’s buying Paradigm Quest (PQ), giving it PQ’s in-house brands, Merix Financial and Lendwise — and reportedly, origination contracts with dozens of other private label brands. The move makes MCAP a juggernaut in the mortgage broker industry.
What You Should Know About Collateral Charge Mortgages
Aug 6, 2019 · Ross Taylor is dedicated to empowering Canadians with financial literacy and expertise in housing, credit, and real estate. With over 20 years of experience as a mortgage broker, Ross has helped thousands of Canadians navigate the complexities of home financing and credit management.
Qualifying Rate - Mortgage Rates & Mortgage Broker News in …
Apr 30, 2018 · The same holds true if you get a variable rate or a fixed term under five years at most mainstream lenders. For example, suppose you apply for a 2.25% five-year variable mortgage. Lenders generally make you qualify at their posted 5-year rate (5.14% for example). “Qualify” means that you must prove you can afford a payment at that higher rate.
Fixed mortgage rates are falling again. Here’s why
Aug 1, 2024 · The lowest nationally available deep-discount uninsured 5-year fixed rate was down roughly 25 basis points (0.25%), according to data from MortgageLogic.news. Other terms have seen reductions ranging anywhere from 5-20 bps. Among the Big 5 banks, CIBC this week trimmed nearly all of its special-offer rates an average of 20 bps.
The Big Banks are slashing their interest rate forecasts
Aug 8, 2024 · Just a couple of weeks ago we reported on CIBC and TD’s interest rate forecasts, which predicted an additional 175 basis points (1.75 percentage points) worth of Bank of Canada rate cuts by the end of 2025.. Well, both banks have updated those forecasts and are now predicting 200 bps (two percentage points) worth of easing by the end of 2025.
Mortgage rate war intensifies as rates dip below 4%
Sep 20, 2024 · “I do anticipate more lenders bringing out rates with a ‘3-handle’ soon,” Valko predicts. She adds that with the increasing competition, borrowers may shift back toward longer-term fixed-rate mortgages, especially those seeking stability …
Three big banks just slashed fixed mortgage rates
Jun 18, 2024 · As we reported last week, lenders had already started trimming rates in the wake of a nearly 40-basis-point drop in bond yields, which typically lead fixed mortgage rate pricing.. While none of the big banks made any major rate moves at that time, this week saw BMO, CIBC and RBC all deliver widespread rate reductions to their posted special rates across all …
2023 housing and interest rate forecasts - Mortgage Rates
Dec 29, 2022 · CREA. 2023 home sales forecast: 520,156 (-2.3% year-over-year) 2023 home price forecast: $721,814 (+0.2%) Commentary: “With interest rates on the rise, home sales have continued to cool. In some parts of the country, home prices have fallen from their peaks reached earlier this year, are flat in some regions, and are still climbing in others.