Following a 16-year high in the yield on Government of Canada bonds, which set fixed mortgage rates, fixed mortgage rates may rise sharply. Mortgage providers may increase rates by as much as 30 basis points (0.20% to 0.30%), according to rate experts. According to Rudy Lochan, fixed rates should increase by 20 basis points as …
Increasing fixed mortgage rates are anticipated. Should I worry? Read More »
The interest rate you discover at the beginning of your search might no longer be the lowest when it comes to finalizing the deal at closing. Mortgage rates are changing frequently as of recent. What is the formula, then, that will enable you to obtain the overall lowest mortgage rate? After Your Mortgage Is Approved, …
Achieving the Lowest Mortgage Rate: Your Roadmap Read More »
The exhilaration of buying a new home will motivate you to plan ahead to ensure you have all bases covered. Its good to keep in mind that multiple parties are engaged during the mortgage application process: Mortgage industry experts include: Lender Mortgage Broker Realtor Home Inspector Insurer Appraiser Lawyer Parties involved will change based …
Mortgage terminology can be difficult to understand at times, therefore it’s not uncommon for people to get it wrong. It can be perplexing at times. A seasoned mortgage professional will be able to comprehend your needs and help you make the best decision. For example, if you ask a mortgage representative about their lowest refinancing …
What Is the Difference Between Mortgage Renewing and Refinancing? Read More »
Most people choose to take out a loan when buying a home, which enables them to increase their equity over time as the loan is repaid. By dividing the amount of the outstanding loan by the home’s current market value, one can calculate their equity. Your equity would be $200,000, for instance, if your home …
Home equity loans: What are they really? A Guide for Canadians Read More »
In many industries, artificial intelligence (AI) has become a transformational force. The mortgage sector is no different. Artificial intelligence (AI) is changing how mortgages are created, underwritten, and maintained thanks to its capacity to analyze enormous volumes of data, automate procedures, and offer insightful analysis. In this article, we’ll examine how artificial intelligence (AI) is …
How artificial intelligence is transforming the origination of mortgages Read More »
Mortgage rate rises have been commonplace during the last two weeks at mortgage lenders, including a number of the Big 6 banks. The change comes after a more than 70 basis point increase in the yield on the 5-year bond issued by the Government of Canada, which ordinarily sets fixed mortgage rate pricing. As of …
Are lenders increasing fixed mortgage rates, including some major banks again? Read More »
After a five-month decline, Canada’s headline inflation rate increased in April. The consumer price index increased slightly from the 4.3% growth seen in March to 4.4% in April, according to the most recent statistics from Statistics Canada. Rent rises (+6.1% year over year), petrol price increases (+6%), and mortgage interest rate increases (+28.5%) all contributed …
Our financial journey depends on our credit score. It is a quantification of your creditworthiness that lenders use to assess your likelihood of repaying debts. Better interest rates, larger loan amounts, and credit card benefits may be available to you if your credit score is good. This blog post will explain what a credit score is, …
What is a credit score, and how can you maintain a high score? Read More »
In response to a comparable action by the US Federal Reserve, the European Central Bank announced a modest interest rate increase. The inflation prognosis, it said, remained “too high for too long.” In an effort to control inflation, the European Central Bank (ECB) announced a 0.25% increase on Thursday, raising the eurozone’s benchmark interest rate …
