Author Archives for SteveH

How Do Mortgage Brokers Get Paid?

When a prospective homebuyer finds out they don’t need to pay for the services of a mortgage broker, their first thought is often: “What’s the catch?” Like many financial advisers,...

New Mortgage Rate Insights From BMO

Rising rates and new mortgage regulations aren’t enough to scare nearly 1 in 4 Canadians. That’s how many plan to buy a home within the next year. This comes from...

Who Offers Fixed-Payment Variable Mortgages?

Variable rates can present a catch-22. On the one hand, variables are almost always cheaper than most fixed mortgages. And they also let you capitalize on falling interest rates. On the...

Advice Valued More than Ever

It used to be a lot easier to understand mortgages. But since January 2016 alone, we’ve seen: Minimum down payments increased to 10% for any portion of a mortgage above...

Mortgage Costs to Rise in 2018, Scotia Says

Scotiabank’s out with a new prediction. The nation’s #3 mortgage lender says rising rates will cause average mortgage carrying costs for new buyers to jump 8% in 2018 and another 4% in...

What Rate Forecasters are Telling Us

It’s been seven weeks since the Bank of Canada began its first rate hike cycle in seven years. But with its next meeting on Wednesday, will it pull the trigger again? Derivatives prices imply...