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. […]
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Breadcrumb Trail Links Real Estate Mortgages Housing affordability near the worst it has been in more than 30 years A realtor’s sign outside a house for sale in Toronto. Photo by Chris Helgren/Reuters/File Photo Article content The housing market may be hearing up again, but most Canadians are still waiting on the sidelines for mortgage […]
Breadcrumb Trail Links News Economy Fewer people think they are worse off financially than last month More Canadians said they believed the national economy would strengthen over the next 60 days, according to the Maru poll. Photo by Peter J. Thompson/National Post Article content Canadians appeared to reach for some optimism regarding the economy and […]
Article content Mortgage brokers are beginning to see more instances of default on privately financed loans and an increase in powers of sale as the central bank raises interest rates at an unprecedented clip. “We’re starting to see some power in sales in the marketplace in the GTA, and we are also starting to see […]