Tagged : Canadian mortgage rates 
There are currently 2 blog entries matching this tag.
Mortgage rules about to change: What it means to the Calgary Real Estate Market and you
Friday, March 26th, 2010 at 4:14pm. 978 Views, 0 Comments.
There is big news for those of you who pay attention to the mortgage market in Canada: starting April 19th the rules regarding mortgages will change and while not too dramatic, they will affect many homeowners and investors in Calgary Real Estate and across Canada. The motivation behind these alterations appears to be to prevent people operating within the Canadian real estate market from taking on too much debt. In order to achieve this goal, the government is enacting three major changes:
1/ Changes to qualifying rate:
The first big change within this new legislation will be to require those qualifying for a mortgage to have that qualification based on a five-year fixed rate regardless of the actual rate they negotiate. While those who are looking for…
Canadian Mortgage Rate Increase Likely
Friday, October 9th, 2009 at 8:06pm. 1240 Views, 2 Comments.
On the back of Canadian job-loss and employment data released today, major Canadian banks are telegraphing mortgage rates are about to rise. The stronger than expected domestic job numbers saw Canadian bonds ending dramatically lower on Friday. Canada's unemployment rate fell in September for the first time since the economic downturn began, to 8.4% from 8.7% in August. At the same time the country created 30,600 jobs, significantly more than the expected 5,000.
Look for Canada's 5 major banks to raise fixed rate mortgages over the weekend or early Tuesday next week (Monday is the Canadian Thanksgiving holiday).
Tuesday October 13th Update
As forecast all major Canadian banks raised their fixed residential mortgage rates over the weekend or this morning.…
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