Categories for Mortgage Rate Trends

CIBC’s 5-year Fixed Special, Sign of the Times

With the spring market on deck and bond yields sliding, big banks are sharpening their pencils on 5-year fixed pricing. Today we saw BMO cut its “Smart” 5-year fixed rate...

A Case Where Banks Lose & Credit Unions Win

Canada’s new “B-20” mortgage stress test will be a tectonic shift for the roughly 1 in 6 borrowers it affects, starting January 1. It’s going to force higher-indebted creditworthy borrowers...

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...

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....

Prime Rate Jumps: What You Need to Know

In just the latest reminder that banks value profit above PR, each of the Big 5 have hiked prime rate by a full 1/4 point. That means the rate variable mortgages are based on rises to 2.95% on...

Not One and Done

The kingpin of Canadian interest rates has officially made it more expensive to borrow — for the first time since 2010. By boosting its overnight rate target 1/4%-point this morning,...

Rate Hike Mortgage Strategy

“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...

BoC Hikes: Mortgage Rate Surveillance

A quick briefing on recent mortgage rate developments: Higher Rates on the Radar: The market has now fully priced in a rate hike this year, based on the yields of interest rate derivatives....