Author Archives for The Spy

About The Spy

The original...RateSpy

Variable Rates Beat Fixed Rates…A Lot

The foundation for all Canadian interest rates is the overnight target rate. It’s been stuck at or below 1% for an incredible eight years. That’s never happened before. We’re living in bizarro economic times and those with big mortgages are hoping they’ll last. But...

Soaring Prices. Mortgage Fallout: RateSpy TV

This week on RateSpy TV: Sky High Prices & Your Mortgage: Big-city home prices are going orbital. That’s making it harder to score a mortgage approval. The Spy tells you how hard. Check Your Broker: A tiny fraction of mortgage brokers are not on...

The Dark Secret About Rate Sites

A reader asked this on one of our message boards this week: “I don’t understand why every site doesn’t have a refinance selector. How are you supposed to find a rate for a refinance otherwise?” Heck of a good question....

Rate Discounts Shrink: RateSpy TV

This week on RateSpy TV: Conventional Rate Discounts Squeezed: If you’ve got 20% to 34.99% equity, the lowest available rates have risen. The Spy tells you why. NEW! Refinance Finder: The best mortgage rates on refinances are not the same as the best...

The Fed Pulls the Trigger. What Now for Mortgage Rates?

Opps!…They…Did…It…Again. For the third time in 11 years, the planet’s monetary policy superpower has elevated America’s key lending rate by 1/4 point. Now it’s a question of how Canadian rates will react. In and of itself, one highly anticipated U.S....

Spring Mortgage Deals & The Fed Hike: RateSpy TV

This week on RateSpy TV: Spring Mortgage Market Begins: Meridian Credit Union kicked the spring market into gear with the first notable rate sale of the season: 1.99%. We pull out the magnifying glass and examine its pros and cons. Fed Hike on Deck?:...

Mortgage Rule Backlash & Wider Fixed-Variable Spreads: RateSpy TV

This week on RateSpy TV: Rate Impact from the Latest Mortgage Rules: Federal MPs have been interrogating government officials over their new mortgage policies. We dig into how the controversy affects your rate. Fixed and Variable Rates Diverge: Like the song goes, “you gotta keep ’em...

Fixed or Variable Rate? The Decision Checklist

Almost every mortgage shopper has the same question at some point, especially when rates are surging: “Should I Lock in My Mortgage Rate?” Answer this correctly and you’ll save thousands in interest. Pick the wrong rate type, and it could cost you just...

HSBC’s 2.35% Rate & BMO’s $1,000 Cashback: RateSpy TV

This week on RateSpy TV: HSBC’s sizzling 2.35% 5-year Fixed: We’ll tell you if it’s too hot, how HSBC can price this low and how long this killer-special may last. BMO’s $1,000 cashback promo: Cash is nice but first-timers better think twice. Rate Surveillance:...

1946: An Analogue to Today’s Rate Market?

What do interest rate cycles of the past say about rates today? CNBC recently interviewed noted Wall Street technical analyst Louise Yamada and asked her that same question. If you’re a chart and market history geek, her answers will be of interest: On...