Author Archives for SteveH

Another Nail in Competition’s Coffin

As previously announced, CMHC is jacking up default insurance premiums on Canadian borrowers. Effective today, anyone purchasing a home with less than 20% down will fork over up to 1.00%-point more in fees....

Short Terms Get More Love

The fun thing about running a rate site is that you see lots of interesting data, like the rates that consumers click on the most. In reviewing hundreds of thousands of RateSpy...

Where Do Rates Go From Here?

Fixed and variable rates have taken the fork in the road, each in a different direction. 5-year fixed mortgage rates rates headed north at the end of last year. They’re hitched to...

Negotiate Your Mortgage Rate: A Few Tips

It doesn’t matter what you’re buying. If there’s a salesperson involved, the price is almost always negotiable. That goes for mortgages too, so here’s some intel on how to win a...

Brokers Enforcing Cancellation Fees

If you’re considering using a mortgage broker for an approval and backing out at the last minute, check your contract first. It could cost you otherwise. One recent borrower learned this the expensive way...

Mortgage Briefs – Down Payments & Rates

As we turn the page on 2015, get ready for a host of new mortgage trends in the next 12 months. We’ll see new down payment rules, more talk of negative interest rates, and...

Interest Rate Forecasts Take a Dive

Interest rate projections are always a moving target so you never want to rely on them. But it’s nonetheless notable when forecasts from all major banks plunge at once. That’s what happened recently, after...