Mortgage brokers undercut banks

Mortgage brokers are once again undercutting the banks and some are willing to buy down your rate — eating part of their commission in the process — to gain customers. Steep mortgage discounts from the major banks have all but disappeared from the market, leading mortgage brokers to make sacrifices for market share amid new […]

TD, RBC end 2.99% mortgage deals early

After briefly offering record-low rates of less than 3% on some of its mortgages in response to its rivals, Canada’s two biggest banks have pulled back their offers prematurely. Toronto-Dominion Bank, Canada’s second-largest bank, raised its special four-year closed fixed rate mortgage 40 basis points to 3.39%, effective Wednesday, while also introducing a special five-year […]

Banks competing fiercely for borrowers

Canada’s banks are locked in a war of attrition this summer, grinding down mortgage rates and competing more fiercely for personal loans in an effort to steal customers from each other. Stuck in a market where the Canadian consumer is already highly leveraged and more concerned with paying down existing debt, the market for new […]

You better buy a house in this market before it’s too late.

Garry Marr, Financial Post · Jun. 22, 2011 | You better buy a house in this market before it’s too late. How many times have you heard those words? The panic thinking is driven partially by prices continuing to rise to record levels but also by the sense that near-record-low interest rates could rise at […]

Younger families most snared by debt

Debt is the slavery of the free, the Syrian writer Publilius Syrus said all the way back in the 1st century B.C. And here we are, a few millennia later, more ensnared than ever. Canadian household debt loads hit record territory this year, surpassing even levels south of the border. A new Statistics Canada paper […]

New rules would hit condo buyer

The federal government’s efforts to get tough on borrowing are now focused on the condominium sector, with new rules in the works to make it more difficult to qualify for a loan on a high-rise apartment, the National Post has learned. Sources say rules now being discussed would add 100% of condominium fees to the […]

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