Tag Archive: credit rating


One-Year Mortgages Edge Closer to 1%

Not One and Done If you’re going to gamble on a short-term rate, you could do a lot worse than 1.29%. On a contract rate basis, that’s the lowest fixed mortgage rate Canada has ever seen. And it’s probably not done dropping yet. This latest one-year offer is available in select provinces and applies to high-ratio and insurable mortgages up...

Canada Kicked Out of the AAA Club

—The Mortgage Report: June 24— We Just Got Downgraded: The government is spending too much and it’s caught up with them. Our record quarter-trillion deficit worried Fitch, a ratings firm, enough to cut Canada’s credit rating today. “Pandemic lockdown measures and depressed global oil demand will cause a severe recession of the Canadian economy,” it says. Fitch projects Canada’s consolidated...