5 Year Fixed 3.44%

5 Year Variable 3.10%

Current Mortgage News

The Federal Government has announced the new budget which contains measures to address affordable housing across Canada. The finance department anticipates legislation for the new program will pass in time for a September launch.

Announced this morning, the Bank of Canada has opted to maintain the overnight interest rate at 1.75%.

Canadian home ownership rates have continued to be among the highest in the world, despite affordability and stress test concerns.

Representatives from the real estate, mortgage, and home builder industries have recently met separately with government representatives and politicians to discuss the impacts the mortgage lending guidelines are having on buyers.

A total of 820 residential properties were sold in January according to the Ottawa Real Estate Board (OREB).

Mortgage Professionals Canada (MPC) released their State of the Mortgage Market Report. Although the report itself did address the stress test and subsequent implications, it also shed light on the current Canadian mortgage market moving into 2019.

Recent housing data for 2018 showed indications that the stress test and other federal measures have impacted the ability for some millennials to get into the housing market.

Home sales fell 2.5% across Canada from November to December.

Michael Hapke from Advanced Mortgage Investment Corporation joins to group discussing the benefits and advantages of this arm of the Advanced Group of Companies.

In an announcement made today, the Bank of Canada has maintained its key interest rate at 1.75%. This rate impacts the bank prime lending rates on which variable rate loans are calculated.

The Bank of Canada maintained its key interest rate today, keeping the benchmark rate 1.75%. This is the interest rate that impacts borrowing interest rates for consumers, specifically the prime rate for variable rate debt.

Throughout the 2018, Canada has experienced increases in immigration and youth employment, which, along with an aging population, saw more demand in the rental housing markets.