Author Archives for RateSpy Staff

Low Rate or Low Borrowing Cost?

Would you rather have the lowest mortgage rate or the lowest borrowing cost? If you picked the latter, good for you. You’re mortgage savvy, and you’re in the minority. Check...

OSFI Rules to Cost Mortgage Renewers

Renewing a mortgage could soon get a lot more costly for 700,000+ Canadian families. And they’ll have OSFI to thank. The banking regulator’s new stress test will drive up debt...

Mortgage Closing Costs. Be Ready.

You’ve just made the biggest purchase of your life. After waiting months to close on your home, suddenly you’ve found yourself short $4,000. All too often, unnoticed costs catch new homebuyers...

Private Rates Still Elevated Amid Tight Funding

Private (non-prime) lenders are getting tapped out across the country. Fisgard Asset Management Corporation, one of Canada’s largest mortgage investment corporations (MICs), is no exception. “It’s a dynamic time right now,”...

Some MFCs Are Risking Their Reputation

Mortgage Finance Companies (MFCs) pitch themselves as a better alternative to the banks. But that’s definitely not true in all cases. Here’s one example. At the moment, certain MFCs are...

Rates Could Rocket, But…

When it comes to rate predictions, the bond market outwits us all. It incorporates every known economic variable to arrive at today’s level of interest rates and estimate future rates....