About Paul Meredith

Paul Meredith is the author of the Amazon #1 best selling book, Beat the Bank – How to Win The Mortgage Game in Canada, and has ranked as one of the top 75 mortgage brokers in Canada since 2016. He was a finalist for Mortgage Broker of the Year in 2018, and can be seen as the exclusive mortgage broker on season two of TV’s Top Million Dollar Agent.

Where Are Mortgage Rates and the Real Estate Market Heading in 2020?

By |2020-01-08T15:41:56+00:00January 8th, 2020|Mortgage Rates|

It’s hard to believe that we are now in the year 2020, yet still no flying cars.  What gives?   Still, we have seen some great technological advances in the last decade, along with some of the lowest mortgage rates in history.    So what can we expect as we enter 2020?  We rounded out [...]

Trudeau Suggests Changes to The Mortgage Stress Test

By |2019-12-18T20:46:38+00:00December 18th, 2019|Mortgage Rates|

The controversial mortgage ‘stress test’ is what requires borrowers to qualify for a mortgage based on a higher rate than their contract rate (the rate the mortgage payment is based on).    It requires you to qualify based on the higher of the benchmark rate, which is currently 5.19%, or 2% above the contract rate, [...]

Is Now The Time To Convert Your Variable Rate Into a Fixed?

By |2019-12-11T17:24:52+00:00December 11th, 2019|Mortgage Rates|

Fixed rates have fallen to their lowest levels in more than two years, with 5 year fixed rates as low as 2.54%.  Anyone currently in a variable rate mortgage will know that this is lower than their current rate.  Even those with the deepest prime rate discounts would be paying 2.75%. With fixed rates being [...]

Today’s Interest Rate Announcement Was No Surprise

By |2019-12-04T17:07:45+00:00December 4th, 2019|Mortgage Rates|

This morning marked the Bank of Canada’s final rate announcement for 2019.  As expected, they have once again kept their rate unchanged.  Prime rate remains 3.95%. Earlier in the year, it was predicated that we would see at least one rate cut from the BOC before the end of the year. The wait will however [...]

Don’t Expect A Rate Cut Before 2020

By |2019-11-27T16:59:15+00:00November 27th, 2019|Mortgage Rates|

Since the middle of the first quarter in 2019, it’s been predicted that the Bank of Canada will cut their prime rate at least once.  Ever since, the market has been watching closely, yet the Bank has been steadfast in maintaining the status quo despite continuous pressure to make the cut. The next scheduled rate [...]

The Market Heats Up with Mortgage Rate War!

By |2019-11-20T20:17:29+00:00November 20th, 2019|Mortgage Rates|

It’s hard to believe that we are now approaching the end of 2019.  With the end of the year in sight, some mortgage lenders are introducing extremely aggressive promotions to finish the year strong. Regardless of whether you have a mortgage coming up for renewal, have a new home purchase closing soon, or if you [...]

Is It Okay To Change Jobs Before Your New Mortgage Closes?

By |2019-11-13T16:54:47+00:00November 13th, 2019|Mortgage Rates|

New job opportunities can be exciting!  They typically offer a higher income, and more potential for growth.  But what happens if you’ve purchased a new home and are offered a new job prior to closing on your new home? This is not an uncommon situation.  Should you find yourself in this position, you’ll need to [...]

Results of This Morning’s Interest Rate Announcement

By |2019-10-30T15:29:23+00:00October 30th, 2019|Mortgage Rates|

Since late in the first quarter of the year, it’s been predicted that the Bank of Canada will be dropping rates this year.  The wait continues however, as the Bank of Canada announced this morning that they will be maintaining their overnight rate.  The overnight rate is what prime rate is based on. .  For [...]

Fixed Mortgage Rates Continue to Rise… But Why?

By |2019-10-23T16:00:13+00:00October 23rd, 2019|Mortgage Rates|

Since mid-winter, it’s been predicted that the Bank of Canada would be cutting their overnight rate this year.  The market has watched closely ever since, yet here we are in the fourth quarter and we have yet to see any movement. The next scheduled rate announcement will take place next week on October 30th. This [...]

Is the Toronto Real Estate Market Booming? The Answer May Surprise You!

By |2019-10-17T14:06:00+00:00October 16th, 2019|Mortgage Rates|

While the temperature drops, the housing market continues to gain strength. In September, home sales in the GTA were up 22% over the same month in 2018 with 7,825 total sales. In September 2018, there were 6,414 total sales. While this represents a strong increase, it’s still far off the record of 9,800 sales back [...]