Fixed vs. Variable Mortgages in a Shifting Rate Environment
How Canada’s evolving trade tensions and economic conditions could influence mortgage rates—and what borrowers should consider when choosing between fixed and variable products. Introduction Mortgage shoppers in Canada are facing one of the most unpredictable rate environments in years. The recent escalation in U.S.-Canada trade tensions, combined with inflation risks and a slowing economy, has…
5 Common Mortgage Renewal Mistakes (And How to Avoid Them)
Your mortgage renewal isn’t just paperwork — it’s a prime opportunity to reset your financial course. Yet, many homeowners let it pass by without giving it the attention it deserves. The result? Missed savings, higher debt, and fewer financial options down the road. Let’s break down the most common mortgage renewal mistakes — and how…
homes | mortgage | Real Estate
Exciting New Mortgage Rules Effective December 15th
Exciting New Mortgage Rules Effective December 15th Exciting changes to mortgage rules are here! Here’s what you need to know: Key Updates 1. 30-Year Amortizations 2. Higher Price Cap 3. Newly Built Homes Focus • Homes must be owner-occupied and not previously used for residential purposes. What This Means for You
Minimum qualifying rate for uninsured mortgages
Current rate:The greater of the mortgage contract rate plus 2% or 5.25%. The minimum qualifying rate (MQR) for uninsured mortgages is a mortgage stress test applied by lenders to borrowers. OSFI obliges federally-regulated lenders to apply this stress test to their borrowers. This helps lenders prepare borrowers so they can continue to make mortgage payments…