As the housing market in Canada continues to show signs of cooling off, mortgage lenders try to heat things up by dropping fixed rates some.  Now available on 5 year fixed terms as quick close specials or with limited prepayment options : 3.79% and 3.84%.   So rates are again near the historic lows of 2009!   [...]

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Forecast for rate hikes and currency strength in Canada trimmed as economic growth outlook dampens abroad
CIBC World Markets Inc. trims forecast for rate hikes and currency strength in Canada as economic growth outlook dampens abroad
TORONTO, Aug. 18 /CNW/ - Continuing weakness in the U.S. economy may force the Bank of Canada to put interest [...]

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As summer weather heats up again in the East with temperatures in the high 30’s, the real estate market is doing the opposite with a heavy cooling off of sales.   This has forced lenders into a competitive race for  what buyers are left in the market.  Rates are again below 4% on the popular 5 [...]

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Questions linger whether economy is on rebound or are we in for a W shaped double recession.  As such, stock markets having a rocky ride of late and interest rates have dipped again.  Can now get a 5 year fixed rate mortgage around the 4% range and the variable/adjustable rate mortgage is as low as [...]

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It had to happen.  Economic #s too good.  So a bit of bad news for variable rate mortgage holders and home shoppers.    Rates on variable and adjustable rate mortgages climbing a ¼ point with today’s announcement by Bank of Canada that prime rate going up.  Move was expected but with recent troubles in Europe and on [...]

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New special in the broker channel from one of lenders.  Five year fixed rate of 4.19%.  Limited prepayment options of 5% per year.  Not available for preapproval.  Firm deals only with closing within 30 days. 
If interested contact www.buyingblock.com and mention the IA Special. 

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Gloom hanging over global economy has lessened odds of Bank of Canada raising prime rate next week as was anticipated.  Inflation #s still a little high so possible but experts suggesting Mark Carney will hold off until at least July as per original dateline mentioned last year. 
Fixed rates at major banks dropped .10% last week.  [...]

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Some smaller lenders have chosen not to follow big banks lead with higher fixed rates.  So special available for 90 day rate hold at a rate of 4.35% for 5 year fixed.  
Some new special variable rates as well, as low as .55% below prime or 1.7%.
Spring is in the air.  Great time to buy since [...]

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Folks could be another small fixed rate jump on horizon.  See below.  Strange days indeed. 
 
Inflation #s for March were lower than Feb. ( which many say were skewed by Olympics ) which may give Bank of Canada and Mark Carney opportunity to not raise prime rate until July as forecasted instead of bumping up [...]

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RBC and Scotia surprisingly raised fixed rates further today, a mere two weeks since last spike.  Suspect others may follow.  Was a 1/4 point increase lifting popular 5 yr. fixed rate to 4.7% range with these lenders.  Still others available as low as 4.19% for same product in broker channel. 
 
Variable still a super low [...]

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