Today's post is my quarterly update on the state of the Canadian mortgage market. I present both sides of the inflation debate and close with my usual recommendations on both fixed and variable rates going forward.
Conservative borrowers who prefer fixed rates almost always choose a five-year term. In today's environment, I think there's a much better deal to be had, even if no one is talking about it. In today's post, I make my case.
Borrowers are often surprised to learn that qualifying for a variable-rate mortgage is harder than qualifying for a fixed-rate mortgage, even though the variable rate is lower. To find out why, check out today's post.
A newly released report by the Bank of Canada called "Discounting in Mortgage Markets" gives us some very useful insights into how much lenders are discounting their mortgage rates and for whom. Today's post summarizes the report and offers my interpretation of the results.