Posts from the ‘Monday Morning Mortgage Rate Updates’ Category

In its most recent policy statement released on May 30, the Bank of Canada (BoC) gave every indication that it would raise its overnight rate, which our variable mortgage rates are priced on, at its next meeting on July 11. But right afterwards, U.S. President Trump started a trade war with Canada (among other countries), and we were hit with a steady string of mostly weaker-than-expected economic data. These events fueled speculation that the BoC might not actually follow through with a rate-hike next week and piqued everybody’s interest in BoC Governor Poloz’s speech to the Greater Victoria Chamber of Commerce, which he delivered last Wednesday. Market watchers expected Governor Poloz to use this forum to confirm whether recent events had changed the Bank’s near-term plans. Governor Poloz […]

When the BoC released its latest policy statement it might as well have hung out a neon sign that said, “We’re hiking rates at our next meeting in July”. Then Murphy’s law kicked in and just about every ensuing economic development from that point forward served to undermine the Bank's intent.

The idea of a trade war with the U.S. seemed ridiculous until very recently. Then again, so too did the idea that Canadian steel (or Canadian anything) poses any sort of threat to U.S. national security. And yet here we are. As our leaders contemplate retaliatory tariffs against President Trump, the U.S. Bully-in-Chief, we must now imagine a world where Canada and the U.S. no longer trade freely with each other, and for readers of this blog, contemplate how that development is likely to affect Canadian mortgage rates. First, a quick recap. I am an independent full-time mortgage broker and industry insider who helps Canadians from coast to coast. If you are purchasing, refinancing or renewing your mortgage, contact me or apply for a Mortgage Check-up to obtain […]

The question that follows from last Friday's weak Canadian employment report is: How will it impact the Bank of Canada's plans to raise rates again in the near future?

Today’s post provides highlights from the Bank of Canada’s latest statement and offers my take on how it impacts the appeal of our variable-rate mortgages.

In today's' post I simulate three different scenarios for Canadian variable rates over the next five years and provide a rationale for how each might unfold.

It’s time for a fresh look at the question every borrower loves to ask: Is now a good time to choose a fixed or variable rate?

There is no new post this week but I will be back up and running next Monday as usual. In the meantime, here are links to my five most popular posts thus far in 2018: Canadian Mortgage Rate Forecast for 2018 – Part 1 (Five-Year Fixed Rates) Canadian Mortgage Rate Forecast for 2018 – Part 2 (Five-Year Variable Rates) Do Higher Interest Rates Cause Lower House Prices? How to Make Your Mortgage Tax-deductible (Part One) Open vs. Closed Mortgages: The Surprising Winner Is… I am an independent full-time mortgage broker and industry insider who helps Canadians from coast to coast. If you are purchasing, refinancing or renewing your mortgage, contact me or apply for a Mortgage Check-up to obtain the best available rates and terms.