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The Threat of 10% Higher Payments

Here’s a stat that’s got debt and housing critics talking: Almost 3 in 4 homeowners say they’d suffer “financial difficulty” if their mortgage payment rose by 10%. This warning comes from a new Manulife Bank survey released today. This number...

Yields Sink. Mortgage Rates Might Follow

The “Trump Bump” it was called — that 50+ basis point run-up in rates following President Donald Trump’s surprise presidential win. Well, the Trump Bump has become the Trump Dump. Bond yields dove to a 6-month low yesterday on fresh reports of White...

Home Capital: Top 10 Predictions

It’s easy to stoke fear of a crisis when there’s already a purported crisis. Towering housing valuations in Canada’s internationally renowned cities have prompted bubble-talk for years. Housing bears are constantly speculating on what it’s going to take to “pop” it. Well,...

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...