The US housing market has been experiencing a surge in demand over the past year, with low mortgage rates being one of the key factors driving the trend. However, recent announcements by the Federal Reserve regarding the direction of interest rates have left many...
While the variable rate has traditionally been a money saver, the switch to fixed is definitely on. Since March 2022, fixed rates have risen only 1.7%, while the Bank of Canada has hiked the variable rate option by 4.25% Fixed rates generally follow the Government of...
With today’s higher interest rates and the government putting even more rules and restrictions in place, a Mortgage Broker is better than a bank. Here is why. 1. More Options Mortgage Brokers are not restricted by the same rules banks and research all your...
Many questioned whether the market would improve in the spring after a year when qualifying for a mortgage became significantly more difficult. This year’s spring market may improve, given the Bank of Canada’s indications that rates are at their highest...
Not many people understand the difference between conventional and collateral mortgages. With a standard conventional mortgage, you get a set amount, rate and amortization. For example, say the property is worth $250,000 — you get a $200,000 loan at 3.5 percent, a...
According to a new Yahoo Canada and Maru Public Opinion poll, the current mortgage rate hikes are becoming unmanageable. Among Variable rate mortgage holders 45% say they’ll be forced to sell in under nine months. 19% said they had to make drastic financial...
