Attention Variable Rate Mortgage Holders

Attention Variable Rate Mortgage Holders

To no one’s surprise but many variable rate mortgage holders dismay, The Bank Of Canada increased its overnight lending rate again by a ¼ percentage point, the third increase following hikes in both July and September. The New Rate Hike It is a bit discouraging to see common sense and fairness failed to present itself … Continued

Why do Mortgage Rates Fluctuate?

Why Do Mortgage Rates Fluctuate

When you’re keeping track of the current mortgage rates and notice the difference from a week ago, it can be a shock to realize how quickly they can really rise and fall. But why do mortgage rates fluctuate? Well, it depends on the changes in key micro and macroeconomic factors that are constantly at play. … Continued

Rates on the Rise

Rates on the Rise

Bank of Canada increased its overnight rate by 1/4 of a percent for the second time this year and banks were quick to follow with an increase in their prime rates. “Given elevated household indebtedness, close attention will be paid to the sensitivity of the economy to higher interest rates.” Read the Official Announcement Know … Continued

How to Pay Off Your Mortgage Faster

How To Pay Off Your Mortgage Faster

When you receive a mortgage, typically the numbers are so high that paying it off doesn’t seem like an attainable goal. But if you are intent on paying off the largest loan you will likely ever receive faster than anticipated, then you just need to make smart decisions at the inception of your mortgage loan. … Continued

Fixed or Variable-Rate Mortgage: Which is Right for You?

Fixed or Variable-Rate Mortgage: Which is Right for You?

When it comes to choosing a mortgage solution, there are many options available to you. One of the important decisions you must make is whether you prefer a fixed-rate or variable-rate mortgage. Both have their benefits, but one option may be more or less appropriate for you depending on your financial situation and comfort level. … Continued

An Introductory Guide to Mortgage Rates

Understanding Mortgage Rates

When you are deciding to buy a home, interest rates are one of the many important factors that you to think about. When interest rates are low, there’s no better time to start hunting the Ottawa real estate market for that perfect home. Let’s explore interest rates and how they affect your mortgage. Mortgage Rates … Continued