OTTAWA MORTGAGE RATES - Today's fixed and variable rates

Toronto's Dye & Durham postpones IPO
The Globe and Mail posted: 5 hours ago
Shares of Alithya Group Inc., a Montreal-based technology consulting services firm modelled after CGI Group, started trading earlier this month; before that, the last IPO of note was in the spring of 2017 by online mortgage services firm Real Matters ...
Home Depot suggests US housing demand slowing
The Globe and Mail posted: 7 hours ago
After years of steady recovery from the U.S. housing market meltdown in 2008, there are signs that housing demand is slowing as mortgage rates climb higher, hurting purchasing power. Many large homebuilders including D.R. Horton and Lennar have ...
Moving to Toronto suburbs rarely saves cash, housing agency says
Toronto Star posted: 12 hours ago
The high costs of driving or taking public transit along with the extra travel time often offset any benefits from buying a home outside the country's biggest city, Canada Mortgage and Housing Corp. said Tuesday. The burden is becoming heavier, the ...
EQ Bank, credit unions best bet for high-interest savings accounts
Toronto Star posted: 16 hours ago
Luckily, the tide is starting to turn, thanks to the Bank of Canada raising its key interest rate on five occasions in the past 15 months. While debtors bemoan the 1.25-per-cent increase over that time, savers are cheering for higher rates on their ...
Why your neighbour's kid is getting a better mortgage rate than you
Financial Post posted: 17 hours ago
Now, it is true that in order to qualify for the low mortgage rates you would have to pay a one-time insurance payment to CMHC or another Insurer. At the moment, this insurance cost is usually a little more than the mortgage rate benefit of getting a ...
In the news today, Nov. 13
Ottawa Citizen posted: 19 hours ago
The new report by the Canadian Mortgage and Housing Corporation will explore the trade-off between location affordability and commuting costs. — Environment Minister Catherine McKenna will participate in a roundtable with Indigenous representatives ...
Business Highlights
Ottawa Citizen posted: 8 Nov 2018 at 10:52pm
Fed leaves key rate unchanged but sees further hikes ahead WASHINGTON (AP) — The Federal Reserve has left its key policy rate unchanged but signalled that it plans to keep responding to the strong U.S. economy with more interest rate hikes. The next ...
US mortgage rates jump to highest level in nearly 8 years
Ottawa Citizen posted: 8 Nov 2018 at 9:24pm
U.S. mortgage rates jumped this week to the highest level in almost eight years, a trend that is pulling down home sales and slowing home price growth. Mortgage buyer Freddie Mac said Thursday that the average rate on a 30-year, fixed rate mortgage ...
Annual pace of housing starts picked up in October, topped expectations
CTV News posted: 8 Nov 2018 at 2:24pm
OTTAWA -- An increase in multi-unit projects such as condominiums, apartments and townhouses helped push the annual pace of housing starts in October higher, Canada Mortgage and Housing Corp. said Thursday. The housing agency said the seasonally ...
A quiet rule change will make it tougher for Canadians with a HELOC to get a second mortgage
The Globe and Mail posted: 8 Nov 2018 at 12:01am
If you are getting a new HELOC, all the banks will “stress test” you on the HELOC credit limit. In other words, they'll add an assumed payment to your mortgage application, based on the greater of the government's benchmark posted rate (5.34 per cent ...
Home Capital stock soars after profit beats expectations
Financial Post posted: 7 Nov 2018 at 3:29pm
The improvement came as Home Capital saw mortgage originations total $1.44 billion during the quarter, roughly 273 per cent higher than the same period a year ago when Home Capital was dealing with the fallout of its earlier liquidity crisis. Home ...
The case for 30-year mortgages as a financial stress reliever for new buyers
The Globe and Mail posted: 7 Nov 2018 at 12:57am
The No. 1 question to ask about your next mortgage is not whether you got the lowest possible interest rate, or how fast you'll pay it off. Instead, ask yourself this: How much stress will your mortgage cause you in the years ahead? If the lowest rate ...
Home equity lines of credit fuel worries as rates rise and prices fall
Financial Post posted: 6 Nov 2018 at 11:09pm
“We have already identified a pressing need for us to help Canadians realize that not using HELOCs responsibly can have serious repercussions on their financial well being,” FCAC Commissioner Lucie Tedesco warned in a recent speech to mortgage ... In ...
Canadian housing market expected to moderate over next two years: CMHC
CTV News posted: 6 Nov 2018 at 7:39pm
Canada Mortgage and Housing Corp. says the country's real estate market is expected to moderate over the next two years as the growth in housing prices begins to slow to be more in line with economic fundamentals. In its annual outlook released Tuesday ...
Finally, mortgage renewals have entered a new era
The Globe and Mail posted: 6 Nov 2018 at 3:15pm
In a recent report, TD looked at the change to the conventional five-year mortgage rate over its term length. Essentially, this shows where rates for a popular product – the five-year, fixed-rate mortgage – stand upon renewal. For much of the past ...
Poloz says markets showing 'welcome symptoms' of normalization
Toronto Star posted: 5 Nov 2018 at 6:34pm
OTTAWA—Bank of Canada governor Stephen Poloz says the eventual destination range for his key interest rate target — estimated by his team at between 2.5 and 3.5 per cent — is in fact “sufficiently uncertain” and could glide up or down. Poloz's ...
Landing zone for rising interest rates 'sufficiently uncertain': Poloz
CTV News posted: 5 Nov 2018 at 1:43pm
OTTAWA -- Bank of Canada governor Stephen Poloz says the eventual destination range for his key interest rate target -- estimated by his team at between 2.5 and 3.5 per cent -- is in fact "sufficiently uncertain" and could glide up or down. Poloz's ...
Bank of Canada wants rates back to normal – here's what that means for your mortgage, line of credit
The Globe and Mail posted: 1 Nov 2018 at 9:53pm
Five-year fixed mortgage rates take their cue from the interest rate on the five-year Government of Canada bond. When we last had a 5.25-per-cent prime rate (in early 2008), five-year Canada bonds were around 3 per cent. Today, we have a five-year ...
US average mortgage rates ease; 30-year at 4.83 per cent
Ottawa Citizen posted: 1 Nov 2018 at 2:49pm
Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages eased to an average 4.83 per cent this week from 4.86 per cent last week. A year ago, it stood at 3.94 per cent. The average rate on 15-year, fixed-rate loans slipped to ...
Interest rate hikes won't be a 'rapid process,' Poloz tells lawmakers
Toronto Star posted: 31 Oct 2018 at 6:11pm
Bank of Canada governor Stephen Poloz reiterated key themes from last week's interest rate hike decision, including the need to return borrowing costs back to neutral levels, in his semi-annual testimony before the House of Commons finance committee.
Higher interest rates, tougher mortgage rules drive surge in Toronto private lending
Ottawa Citizen posted: 31 Oct 2018 at 4:21pm
Twenty per cent of refinancing for mortgage deals in the second quarter were funded by private lenders, a 67 per cent jump from the first quarter of 2016, according to a report Tuesday by Toronto brokerage Realosophy and property data provider Teranet.
Higher interest rates, tougher mortgage rules drive surge in Toronto private lending
Financial Post posted: 31 Oct 2018 at 4:15pm
Higher interest rates and tougher lending standards are driving a surge in private lending to homeowners in the Toronto area. Twenty per cent of refinancing for mortgage deals in the second quarter were funded by private lenders, a 67 per cent jump ...
Ottawa-Gatineau bucks national housing slowdown as new home prices continue to rise
Ottawa Citizen posted: 31 Oct 2018 at 4:02pm
... coinciding with several mortgage rate hikes. Mortgage rates increased and tighter mortgage regulations were introduced around the same time, between April 2017 and February 2018, when Ontario and B.C. governments were introducing policies to cool a ...
Tougher mortgage rules fuel private lending surge in Toronto
Toronto Star posted: 31 Oct 2018 at 2:44pm
Twenty per cent of refinancing for mortgage deals in the second quarter were funded by private lenders, a 67 per cent jump from the first quarter of 2016, according to a report this week by Toronto brokerage Realosophy and property data provider Teranet.
Trump's attacks on central bank rate hikes risk creating future economic trouble: Don Pittis
CBC News posted: 31 Oct 2018 at 8:03am
As markets have tumbled, U.S. President Donald Trump has been leading a charge against Federal Reserve chair Jerome Powell's interest rate increases, and he's not alone. Investors watching markets slide have added their voices, worried that three rate ...

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