Article content We saw multiple providers dip below four per cent on trusty five-year fixed terms. Ratebuzz.ca, for example, is advertising as low as 3.95 per cent in Ontario. And that’s for non-default insured financing (i.e., refinances and purchases over $1 million). Article content Insured five-year terms have been sub-fours for weeks, and this week […]
Article content Floating-rate borrowers got their Christmas bonus from the Bank of Canada on Wednesday: a half-point drop in their borrowing costs. Article content That has more mortgage shoppers on the lookout for cheap variable deals. The lowest nationally advertised pricing now starts at: 4.25 per cent if insured, or prime minus 1.20 per cent […]
Article content Variable-rate borrowers are counting the minutes until the Bank of Canada’s expected rate cut next Wednesday. Markets are betting on a quarter-point trim to Canada’s policy rate. That means the benchmark prime rate should dip to 5.70 per cent for the first time in more than two years. Article content That’s the good news. […]