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March 2, 2020
Last updated on March 2, 2020
Categories
  • Monday Morning Mortgage Rate Updates

How Much Longer Will the Bank of Canada Stand Pat?

The Bank of Canada (BoC) meets this week and the consensus believes the Bank will finally cut its policy rate. Today’s post outlines the factors that are driving that view, and offers my take on why I think the BoC will stand pat (tough call though that is).
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February 24, 2020
Last updated on February 24, 2020
Categories
  • Monday Morning Mortgage Rate Updates

How Last Week’s Mortgage Stress-Test Change Will Impact Borrowers

Last week our federal government announced that it will change the way the Bank of Canada calculates the stress-test rate that lenders use to qualify all insured mortgage applications. In today’s post I will explain what changed and offer five key observations relating to it.
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February 20, 2020
Last updated on February 20, 2020
Categories
  • First-time Home Buyers

Mortgage Basics: Term vs. Amortization

If you are among the many mortgage borrowers who isn’t clear on the difference between mortgage term and mortgage amortization, here is a simple explanation to help clarify.
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February 18, 2020
Last updated on February 18, 2020
Categories
  • Monday Morning Mortgage Rate Updates

Happy Family Day Long Weekend

The terms and conditions in your mortgage contract can have a surprisingly significant impact on your overall borrowing cost. My link in today's post provides a detailed example.
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February 10, 2020
Last updated on February 10, 2020
Categories
  • Monday Morning Mortgage Rate Updates

Is the Mortgage Stress-Test Rate About to Drop?

Last week TD Bank lowered its posted five-year rate to 4.99%. TD’s move by itself isn’t enough to drop the stress-test rate. Other Big Six banks will need to follow. That’s where this gets interesting.
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February 3, 2020
Last updated on February 3, 2020
Categories
  • Monday Morning Mortgage Rate Updates

Canadian Mortgage Rates Move Lower After Bond Yields Drop on Coronavirus Fears

Contagion fears are stoking demand for safe-haven assets, such as sovereign bonds, putting downward pressure on their yields, and by association, the fixed mortgage rates that are priced on them.
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January 27, 2020
Last updated on January 27, 2020
Categories
  • Monday Morning Mortgage Rate Updates

The Bank of Canada’s Cautionary Comments Push Fixed Mortgage Rates Lower

The Bank of Canada offered a decidedly more cautious outlook last week. Government of Canada bond yields fell in response and five-year fixed rates started dropping shortly thereafter.
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January 13, 2020
Last updated on January 13, 2020
Categories
  • Monday Morning Mortgage Rate Updates

Forecast for Canadian Fixed and Variable Mortgage Rates in 2020

In today’s post I offer my predictions of where our fixed and variable mortgage rates are headed in 2020.
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