Author Archives for SteveH

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 alwayscheaper 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...

Fixed vs. Variable. The Gap Narrows

Fixed and variable rates began the year on totally different trajectories. Fixed rates were on the way up. Variable rates were on the way down. But in the last eight weeks, the gap between...

Mortgage Complaint? Who You Gonna Call?

We’ve all heard this line before: “A mortgage is probably the largest financial commitment you’ll make in your lifetime.” So what happens when the process goes sour? Who’s got your back? People run...