CIBC and TD Raise Fixed Mortgage Rates by 20 Basis Points, Completing Big Six Sweep
The Canadian mortgage market has officially shifted into higher gear. CIBC and TD have raised select fixed mortgage rates by 20 basis points (0.20 percentage points), primarily across 3-year and 5-year fixed terms. With CIBC and TD joining the move, all Big Six banks in Canada including RBC, Scotiabank, BMO, and National Bank—have now increased […]
Why Most Newcomers to Canada Are Still Renting and How a Mortgage Specialist Can Help You Buy
While homeownership in Canada remains a top long-term goal for recent immigrants, most end up renting for much longer than initially expected. According to a recent Royal LePage survey conducted by Burson: The gap between wanting a home and actually closing on one comes down to navigating an unfamiliar financial system. Understanding the main hurdles […]
Canadian Mortgage Rate Relief Is Over for This Cycle, Warns BMO: What Borrowers Need to Know
BMO economists warn that Canadian mortgage rate relief has run its course as bond yields climb. Learn how rising rates affect fixed and variable mortgage choices and home buyers. For Canadian homeowners and prospective buyers waiting for lower borrowing costs to reinvigorate the housing market, a stark reality check has arrived. According to a major […]
5 Financial Mindset Differences I See Between Wealth-Building Canadians and the Debt Trap
As a mortgage broker, I get a rare, under-the-hood look at hundreds of Canadian financial profiles every year. I see credit scores, income statements, tax returns, and total net worths. And if there is one major lesson my job has taught me, it’s that a high income alone will not make you wealthy. I regularly […]
Bond Yields Are Surging – Why GTA Mortgage Rates Haven’t Spiked Yet
A recent headline caught the attention across Ontario: “Mortgage rates play dead as yields hit multi-year highs.” If you are tracking the GTA housing market, you might be wondering why borrowing costs have stayed quiet while global bond yields experience significant volatility. Here is a breakdown of what is happening behind the scenes and why […]
CMHC Alert: Ontario Mortgage Delinquencies Pass the National Average for the First Time Since 2012
For over a decade, Ontario homeowners enjoyed a steady layer of financial insulation. Even when economic headwinds squeezed household budgets nationally, Ontario’s mortgage default rates consistently stayed below the Canadian average. That long-standing streak has officially come to an end. According to the latest data from Canada Mortgage and Housing Corporation (CMHC), Ontario mortgage delinquencies […]
How the U.S. Tariff Escalation Impacts the Canadian Mortgage Market
Economic headlines are dominated by the latest U.S. trade dispute, featuring 50 per cent tariffs on over 28 billion dollars worth of targeted Canadian goods alongside promised dollar-for-dollar retaliatory measures. Beyond international trade and supply chain disruptions, these shifting policies have direct ripple effects on domestic interest rates, housing affordability, and local borrowing strategies across […]
What the COVID-Era Mortgage Renewal Wave Means for Your Monthly Payments
If you bought a home or refinanced during the height of the pandemic, you likely locked in historically low fixed mortgage rates some dipping well under 2%. Fast forward five years, and the final wave of those ultra-low rate terms is coming up for renewal. A recent national report highlighted on COVID-era borrowers expecting higher […]
Inside Mark Carney’s $2.7B Toronto Housing Announcement: The Debates, the Updates, and the Mortgage Market Impact
The Canadian real estate and mortgage sectors are buzzing following a massive announcement from Ottawa. Prime Minister Mark Carney, alongside Toronto Mayor Olivia Chow, pledged a staggering $2.7 billion over three years to revive stalled housing developments across Toronto. Aimed at tackling the city’s persistent rental crisis, the initiative injects critical liquidity into 18 approved […]
Why Canadian Mortgage Borrowers Are Ignoring Rate Hike Risk (And What It Could Cost You)
With central banks holding key policy rates and bond yield volatility persisting, many Canadian mortgage borrowers face a crucial decision. Yet, recent market data reveals a surprising trend: a large portion of home buyers and renewing borrowers are actively ignoring interest rate hike risks. Instead of locking in stability or hedging against potential rate spikes […]
