Rising real estate prices and low interest rates keep Canadian households upbeat – Consult with a Vancouver Mortgage Broker

Bloomberg News | May 20, 2014 | Last Updated: May 20 12:01 PM ET The share of Canadians who are predicting higher home prices in their neighborhood remained above 40% for a fifth week in the latest weekly polling by Bloomberg and Nanos Research. That’s kept consumer confidence levels at near the highest in four years, the data show. […]

How lower interest rates are making variable mortgages more tempting – Ask a Vancouver Mortgage Broker

Consumers facing record housing prices are probably increasingly tempted to go with a floating rate mortgage and all the risks that come with an interest rate linked to prime. The lure is right in your face on every mortgage rate comparison site. The five-year fixed-rate mortgage has dropped as low as 3.09% with discounters and […]

Mortgage shopping? Two stars and four dogs from today’s market – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER–  Special to The Globe and Mail Eight months ago, some were proclaiming the end of 2.99-per-cent five-year mortgage rates, for years to come. And now, low and behold, they’re back. But you have to hunt much harder for 2.99 per cent than you did last spring. Some lenders, especially banks, are wary of […]

Analyzing BMO’s Go-Fixed Advice – ask a Vancouver Mortgage Broker

Fixed rates are now “superior,” said BMO in this report released Thursday. “While we have in the past supported going variable,” circumstances now “favour…locking in…” That’s been BMO’s rally cry since 2010 when it proclaimed “Time to Say Goodbye…to Variable.” In retrospect, that advice would have cost mortgagors handsomely. But BMO was far from alone in that […]

Fixed mortgages now trump variable, report says. Not everyone agrees – Consult with a Vancouver Mortgage Broker

Fixed-rate mortgages have gained an edge over variable-rate mortgages given the improving economy and attractive offers on longer-term deals, says a new report from economists at one of Canada’s big banks. “Fixed now modestly trumps variable,” according to a BMO Nesbitt Burns study published Thursday. While many mortgage brokers agree with that assessment, others caution […]

Canada home sales fell 3.3% in January, CREA says – Consult with a Vancouver Mortgage Broker

Canadian existing home sales fell for a fifth month in January on fewer transactions in Toronto and Vancouver, adding to evidence the nation’s housing market is cooling. Sales declined 3.3% in January from the previous month, the Canadian Real Estate Association said today in a statement. The average price of a home sold in January […]

How to make Canada’s low inflation work for your money – Ask a Vancouver Mortgage Broker

ROB CARRICK–  The Globe and Mail The economic situation today is as good as it gets for your household finances. Inflation’s low at just a bit above 1 per cent and wage increases average about 2 per cent. “Statistically speaking, we’re doing better,” said Benjamin Tal, deputy chief economist at CIBC World Markets. “But don’t […]

BoC Decision: Pleasantville for Variable Mortgagors – Consult with a Vancouver Mortgage Broker

Today’s Bank of Canada (BoC) interest rate decision was reassuring for variable-rate borrowers. The Bank announced that Canada’s key lending rate will remain just 75 basis points above its all-time low. The Bank suggested its next move is just as likely to be a rate cut as a rate hike. It said the risk of falling inflation “has grown in importance” […]

Bank of Canada warns low inflation to persist into 2016

BARRIE MCKENNA–  OTTAWA — The Globe and Mail The Bank of Canada is warning that unusually low inflation pressures will persist into 2016 – a new forecast that could further delay future interest rate hikes and send the Canadian dollar lower. The currency plunged after the announcement, sinking to 90.3 cents U.S. by late morning. The central […]

Talk of rising interest rates no reason for homeowners to panic – Consult with a Vancouver Mortgage Broker

ROMINA MAURINO-  The Canadian Press Talk of rising interest rates tend to make homeowners jittery and, if you have a big mortgage, you may be feeling extra nervous. But while Bank of Canada Governor Stephen Poloz may have made some people uneasy when he spoke in a televised interview last week about the likelihood of rising […]

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