Fixed rates

After two years of steadily rising mortgage rates, it appears stability is on the horizon for borrowers.The historic 10-part hiking cycle from the central – which brought the the Prime rate in Canada to 7.2% and variable rates to around 6% – now appears to be in the rearview, as inflation trends in the right direction.

“We’re in a rising rate environment,” we’ve been told over the past 12 months. And while that’s certainly been the trend — the best five-year fixed rate has been steadily climbing since a low of 2.24% … Read More

The Central Bank announced Wednesday it is maintaining its target for the overnight rate at 1.75%, citing uncertainty around the energy and housing markets as reasons for standing pat. “The Bank of Canada’s interest rate announcement … Read More

Before granting you a mortgage, a lender will determine whether or not you can afford the loan amount you’ve requested.

In its latest monetary policy decision, Canada’s central bank announced Wednesday its benchmark interest rate will remain at 1.5%. The bank has gradually hiked its target overnight lending rate four times since mid-2017 – most recently … Read More

Recent upticks in mortgage rates have current and potential homebuyers fretting. But are current mortgage rates really that unaffordable? We looked back through the years at historical trends to put today’s current rates in context. And … Read More