Fixed Rate Mortgages have increased from their lows of 2.49% to their current level at 2.79%. Variable Rate Mortgages were recently being offered at rates as low as 1.85% or Prime (2.70%) minus 0.85%. Now customers are lucky to find them at 2.2% or Prime (2.70%) minus 0.50%. We managed to signal to our clients… Continue reading Canadian Mortgage Rates Are Moving Higher. Why?
On Wednesday November, 25, 2015 CBC News posted an article about some reasons why rates have moved higher from the record lows that everyone was able to enjoy in the summer.
Did you catch CBC’s The National discussing increasing Canadian mortgage debt with MorCan Direct last night? Canadian real estate owners have found themselves in an enviable position over the past 10 to 15 years. Our property values continue to increase and, with few exceptions, the cost to borrow continues to decrease. In 2015 alone, we… Continue reading Marcus Discusses Canadian Mortgage Debt