by Snap Rates | May 10, 2022 | Mortgage
For the first time since 2010, five-year fixed mortgage rates are all above 4% The way the housing market is stalling, the Bank of Canada may have to hit the brakes sooner than expected. The numbers are in and, as one economist puts it, April was the cruellest month...
by Snap Rates | May 1, 2022 | Mortgage
Canadian mortgage borrowers are going to be paying much higher rates soon. Desjardins’ latest consumer interest rate forecast shows the 5-year fixed rate mortgage climbing — a lot. Over the next few quarters, it can hit up to 7% — a rate that would have...
by Snap Rates | May 1, 2022 | Mortgage
The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%. The Bank is also ending reinvestment and will begin quantitative tightening (QT), effective April 25. Maturing Government of Canada bonds...
by Snap Rates | May 1, 2022 | Mortgage
Every quarter we’re bombarded with surveys about how huge swaths of our population are just one paycheque away from insolvency. But those stats usually encompass the whole population. Seldom do they show us how close mortgage holders are to the edge, financially. With...
by Snap Rates | Apr 28, 2022 | Mortgage
Due to high demand for private mortgages. In the past 12 months mortgage broker Mark Mitchell has been hearing from a growing cohort of homeowners who want to join the booming business of private mortgage lending, despite the inherently higher risks. “I was surprised...
by Snap Rates | Apr 8, 2022 | Mortgage, Real Estate
Today’s budget announced a $10 billion package of proposals intended to reduce the cost of housing in Canada (see box below). The fundamental problem is insufficient supply to meet the demands of a rapidly growing population base. Thanks to the federal...
