Mortgage Rate Articles

The largest investment that many Canadians will make is the purchase of a home. Because the vast majority of home buyers don’t have the cash on hand to make the entire purchase, they have to take out a mortgage – a loan that covers the gap between the purchasers’ down ...

The most common amortization for mortgage loans in Canada chosen by Property Owners is 25 years. However, the longest allowable term for a loan in Canada is 10 years, and the most common chosen term is 5 years. This means that, over the course of a typical mortgage, the loan ...

If you know anything about loans and borrowing money, then you know how vital a role your credit score plays in lending decisions that banks and credit unions make. You may think that if your credit score is too low, you will be told that you cannot get a bank ...

It is true that home prices are increasing in some parts of Canada to levels as high as or higher than they ever have been before. However, lenders are responding to a slackening in business by offering lower mortgage rates. According to Ratehub.ca, which provides rate comparisons, rates on a ...

The ease with which people can obtain credit is important for the health of a country's economy. When times are booming within an economy, you tend to see interest rates start to move upward. The banks realize that most borrowers can afford to pay a bit more, and so they ...

The recent announcement that BMO has lowered its 5-year fixed rate from 3.09% to 2.99% has caused a flurry of speculation from market analysts and warnings from the federal government. For the past year the Bank of Canada has been warning that high household debt levels, the bulk of which ...

Why pay more interest than you have to? If you're looking to go through a conventional lender to buy a property in Alberta (and in Canada as a whole), you're going to need to jump through three hoops: income verification, credit score and a down payment. Income verification shouldn't be ...

Calculating Blended Rate Mortgage While mortgage interest rates are still at historically low levels, home values are starting to work their way back up after a long period of depressed prices. This means that people who had had their eye on a house even a few months ago and now ...

It's an exciting time to be buying a house in BC right now. Interest rates are at historically low levels, and while prices are beginning to inch their way upward, particularly in some parts of the province, this is still a great time to be in the market for a ...

Understanding the Variable Rate Mortgage in Canada When you are taking out a mortgage for your new home, one of the most important decisions you have to make involves the choice between a variable rate and a fixed rate mortgage. As you might be able to guess, a fixed rate ...