Market News

The Bank of Canada will keep its key policy rate on hold at one per cent until September, TD Bank predicted Tuesday as it pushed back its expectations for the next rate hike from July. However, TD said it still believed the central bank’s overnight rate would be 1.75 per […]

TD: BoC rate increase pushed to Sept

As expectations of interest rates rising become reality, more and more first-time home buyers are rushing to buy now instead of later. Re/Max report released on Tuesday shows that real estate market is being driven by first-time home buyers. Another interesting thing that the report shows is that the new […]

Re/Max Stats and TD Predictions

We have enjoyed 3 weeks of decrease in fixed rates, but the party is over. For the past week the bold yields have been rising, and this morning TD bank was the fist to announce fixed rate increase. You an expect the other banks to follow this week. TD has […]

Fixed Rates are going back up!

Despite a surge in 4th quarter economic activity, the Bank of Canada has held its key lending rate at 1.00% for the fourth consecutive meeting. In turn, prime rate will remain at 3.00%, which is welcome news for variable-rate mortgage-holders. Although economists expected no rate change today, TD Economics said […]

BoC Takes Another Pass on Rate Hike

Canada blew away economists’ job growth estimates this morning. That’s driven 5-year yields to a new 8-month high. This probably won’t have much impact on variable rates in the short-term, but fixed rates are now under pressure. Gross spreads are down to 100 basis points or less on deeply-discounted 5-year […]

5-year Yields Up Again

Effective March 18, 2011, it will become harder to buy a new home or consolidate debt into your mortgage. That’s due to three new changes announced today by Finance Minister Jim Flaherty: A 30-year maximum amortization on insured mortgages over 80% LTV An 85% LTV limit on insured refinances Elimination […]

New Mortgage Rules Now Official

CALGARY – The holiday bills will start rolling in any day now and it’s the time of year when a lot of Canadians start to think about their overall financial picture. It can be scary time for those without a full understanding of their situation or without any goals or […]

Plan to get fit financially in 2011

The posted 5-year rate reduction last week has all the trappings of a headfake. Man, how we hope we’re wrong about that. 5-year yields closed up huge on Monday and discounted fixed rates should follow if yields don’t drop soon. A few non-bank lenders have already announced fixed-rate increases, effective […]

Rate Watch

Updated: November 15, 2010 Key developments since the August update: Economic growth concerns reached a peak for the year but have since subsided (slightly) The 5-year bond yield (which leads fixed mortgage rates) fell to 18-month lows before rebounding strongly Prime rate rose 25 basis points to 3.00% Fixed mortgage rates […]

Mortgage Term Review – November 2010