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...
Imagine this. You’ve just found the perfect house after weeks of searching. You’ve clawed together every available dollar for the down payment. You’ve gathered up all the necessary documents. And...
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...
If you have a mortgage that floats with prime rate, the constant chatter about rate hikes may be unnerving. Well, now you can take a breather—because the Bank of Canada has taken a...
If Donald Trump were a regular guy with a mortgage, he’d surely be appalled by all the fake rates in the media. You just can’t take rates at face value anymore....
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...
For now, the days of sub-2% everyday mortgage rates are officially over. Wednesday morning’s slightly surprising 1/4-point Bank of Canada hike was the nail in that coffin. The ensuing 1/4-point bump in prime rate...
Lenders want to make sure you can afford higher mortgage payments if interest rates soar. So does the government. That’s why regulators created the mortgage qualifying rate (MQR) — a.k.a., “benchmark qualifying...
“It does look as though [rate] cuts have done their job.” That was Bank of Canada chief Stephen Poloz in a CNBC interview today. It was the second time he’s provided...
Big bank posted mortgage rates are like sticker prices on new boats. Almost nobody pays them. Today’s typical 5-year posted rate is 4.64%. Were you to get stuck paying this joke of a mortgage...
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