I don’t think anyone could wish for a better holiday gift than falling mortgage rates!  Although your kids may disagree. From October 2021 until to October 2023, we saw perhaps the largest displays of rate increasing madness we’ve ever seen. The lowest 5 year fixed rate for an insured mortgage shot from 1.59%, all the [...]

Facing a mortgage renewal at higher rates? You’re not alone. While fixed mortgage rates have come down by as much as 0.50% off their highs, anyone with a fixed rate coming up for renewal won’t just have to accept a higher rate… but the higher payment that comes with it.   Given that the payment increase [...]

Today was the Bank of Canada’s final rate announcement of 2023. As expected, they left it unchanged. The pause has now stretched across five consecutive months.   With inflation continuing to ease, we get closer to that magical day we have all been waiting for. The day when the rate cuts begin!    Many believe that a [...]

Fixed mortgage rates have been steadily increasing for months now, causing concern for potential homebuyers and those with mortgages approaching their renewal date.   However, there is finally some light at the end of the tunnel.   There has been downward pressure on fixed mortgage rates which has been continuing for almost six weeks!  The last time [...]

Whether you're buying a new home, refinancing your current mortgage, or have an upcoming mortgage renewal, your ultimate objective remains the same: securing the lowest possible mortgage rate. Locking in a rate is important as it protects you against rising rates. Once your application has been submitted to the lender for approval, that rate is [...]

Trying to time your entry into the homebuying market is a bit like trying to hop onto a merry-go-round that’s spinning just a tad too fast. You want to get on without getting dizzy, or worse, flung into a nearby bush. With mortgage rates soaring, it’s no surprise that many would-be buyers are hanging back, [...]

For the last six months, we’ve been watching fixed mortgage rates climb like a stubborn cat up a tree. Just when was looking like this would never end, we’re now starting to see some relief.  As of late last week, we’ve seen multiple lenders dropping their fixed rates by as much as 0.25%. But is [...]

With all the writing I’ve done on rising mortgage rates this year, I was starting to feel like Bill Murray in Groundhog Day. But instead of reliving the same day over and over, it felt like I was writing the same blog over and over. ‘Mortgage Rates are rising again!”  So far this year, I’ve [...]

Much to the delight of variable rate mortgage holders, the Bank of Canada announced this morning that they will be holding their rate for the second time in a row. It was only about two weeks ago when the possibility of a hike with today’s announcement was about 50/50. But with CPI inflation dropping to [...]

In a world where there is no shortage of economic uncertainty, choosing the right term length can be like trying to pick the winning lottery numbers. We’re all on the hunt for the lowest mortgage rates as we all have a common goal: To save as much money as possible. But the lowest mortgage rate [...]