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Thursday, July 7th, 2022

Mortgage rate drop means housing more affordable RBC study finds Vancouver and Toronto still the least affordable

Housing across Canada became more affordable in the second quarter of this year because mortgage rates dropped, according to a report from RBC. Even with prices moving higher, homes became more affordable in nearly every market across Canada, according to RBC’s Housing Trends and Affordability Report. The least affordable markets were Toronto and Vancouver, where […]

Breaking a closed mortgage can be costly: Ask a Vancouver Mortgage Broker

You can get a low mortgage rate by signing up for a five-year term. But you could be penalized for an early exit if your plans change. By: Ellen Roseman On Your Side, Published on Sun May 11 2014 Brian Hyytiainen bought a house and took out a five-year mortgage in 2011. Things have changed in his life, […]

Royal Bank taps auto industry strategy of ‘employee pricing’ to sell mortgages – Consult with a Vancouver Mortgage Broker

In the latest twist on the mortgage wars being waged by Canadian banks to win customers, Royal Bank of Canada is taking a page from auto dealers by offering “employee pricing” to home buyers. The same interest rate offered to RBC employees is being given to customers seeking new and “switch-in” mortgages across Canada. “This […]

Young Canadians see buying a house or condo as a wise investment: RBC poll – Ask a Vancouver Mortgage Broker

TORONTO — More young Canadians believe owning a home is a very good investment, according to a new RBC home ownership poll. It says 86% of those aged 25-34 believe owning a house or condo is a solid investment, up from a reading of 78% last year. RBC says that attitude is also reflected in […]

Shop Your Renewal – Ask a Vancouver Mortgage Broker

Shop Your Renewal By Rob McLister, Editor,”  Lenders make a lot more money when they renew your mortgage than on your initial term. That’s partly because they don’t have to compensate anyone for referring you (or compensate them as much). But it’s also because many renewers don’t comparison shop as much or negotiate as hard. According to a […]

Trade and Investment to Support Canada’s Economy In 2013: RBC Economics

Real GDP to increase to 1.9 per cent in 2013 TORONTO, June 19, 2013 — Canada’s economy started 2013 growing at a solid clip, as energy production continued to recover and the U.S. economy proved to be more resilient to a recession than was feared, according to the latestEconomic and Financial Market Outlook issued today by RBC […]

TD Joins RBC in Raising Fixed Rates – Ask Adil Virani – Vancouver Mortgage Broker

TD Joins RBC in Raising Fixed Rates  By Rob McLister, Editor,” After cutting advertised rateslast week, TD Canada Trust has followed RBC’s leadin lifting rates back up. Like RBC, TD is raising its advertised: 4-year fixed …by 10 bps to 3.09% 5-year fixed …by 20 bps to 3.29% These changes take effect Tuesday, June 11. And if history is a guide, they’ll likely be matched by […]

RBC’s Step Forward – Ask a Vancouver Mortgage Broker

RBC‘s Step Forward Do you know what largely determines your mortgage rate? It’s the cost to your lender of raising capital in the first place. This is what makes recent activity on the part of RBC so noteworthy. RBC used covered bonds to raise $2.5 billion on September 12th of this year. Some of this […]

Canada to skirt global turbulence, record healthy growth this year: RBC

June 14, 2012 by  
Filed under Latest News, Latest Rates, Recent News

OTTAWA — A new outlook from the Royal Bank predicts Canada’s economy will skirt the global economic turbulence and rebound strongly from a slow start to the year. The RBC’s new quarterly forecast anticipates the economy will rebound to 3.1% growth during this quarter, which ends in June, and record a 2.6% gross domestic product […]