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Best Mortgage Rates

Last Updated: May 20th, 2012
TypeTermRateLender
Variable5 Years2.85%Credit Union
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Fixed5 Years3.24%Mortgage Bank
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Rates are subject to change without notice. All rates are subject to borrower qualification.

Knowledge is Power. Be Powerful!

Rate Showroom is a free service available to Canadians to compare mortgage rates of various lending institutions. It's your one-stop shop to get the facts and find the best product to meet your needs.

Articles

Mark Carney Suggests Rate Hikes Looming

Bank of Canada Governor Mark Carney said again that the bank may have to raise interest rates to keep inflation on target.  This would mean in increase to variable rate mortgages.  He said it was not necessary to be more explicit about timing of a possible move but said that Canada was “well into an expansion”.  The timing and degree of any increase “will be weighed carefully against domestic and … Read More →

CREA Reports March 2012 Sales up From 2011

According to statistics released by CREA – The Canadian Real Estate Association – housing resale activity rose in March 2012 compared to the same month a year ago. The increase stood at 1.6% vs. March 2011, the smallest year-over-year increase since April 2011. It reflects moderate gains in a number of major centres, including Toronto, Calgary, Montreal, Ottawa, and Quebec City. Increases in these housing markets offset larger declines in … Read More →

CREA resources for Buyers and Sellers (Part 2)

CREA – The Canadian Real Estate Association – provides a number of different and useful resources to help the public buy or sell a home. A summary of the tips will be provided in a series of two articles. This second part will start with a summary of CREA’s advice for house sellers. Tip 1 – Choose a realtor. Selling a house is not a simple procedure and has the … Read More →

CREA Resources for Buyers and Sellers

CREA – The Canadian real Estate Association – provides a number of different and useful resources to help the public buy or sell a home. A summary of the tips will be provided in a series of two articles. This first part will start with a summary of CREA’s advice for house buyers. Tip 1 – Before starting to search for a house: Consider what features do you need (number … Read More →

Releasing the Equity in Your Home

If you’re one of the many homeowners who has a mortgage free or low mortgage home, then you can unlock a small fortune.  Although many homeowners look forward to the day when they can burn their mortgage, the fact is we will all will  release the equity in our homes as some point.  Whether it’s an inheritance to your loved ones, supplementing your income, providing  for some adventure or bailing … Read More →

2012 Federal Budget Silent on Mortgage Rules

Despite expectations from different sectors that the government will step in to tighten the mortgage rules driving the lending and housing markets, there was no mention of mortgage reforms in the budget. On this subject Canada’s Minister of Finance, Jim Flaherty, told reporters he would like the market to “correct itself”. The government did, however, promise to introduce legislation that would increase oversight of the Canada Mortgage and Housing Corporation … Read More →

Annual State of the Residential Mortgage Market – CAAMP Part 3

The Canadian Association of Accredited Mortgage Professionals (CAAMP) in its most recent annual report of the Residential Mortgage market in Canada (Nov 2011) provided an interesting outlook on three different topics: Consumer opinions on several issues related to housing and mortgages Consumer choices in the mortgage market and satisfaction level Outlook for the housing and mortgage markets A synopsis of this report is being presented in a series of three … Read More →

Annual State of the Residential Mortgage Market in Canada – CAAMP (Part 2)

The Canadian Association of Accredited Mortgage Professionals (CAAMP) in its most recent annual report of the Residential Mortgage market in Canada (Nov 2011) provided an interesting outlook on three different topics: Consumer opinions on several issues related to housing and mortgages Consumer choices in the mortgage market and satisfaction level Outlook for the housing and Mortgage markets A synopsis of this report is being presented in a series of three … Read More →

Annual State of the Residential Mortgage Market in Canada – CAAMP (Part 1)

The Canadian Association of Accredited Mortgage Professionals (CAAMP) in its most recent annual report of the Residential Mortgage market in Canada (Nov 2011) provided an interesting outlook on three different topics: Consumer opinions on several issues related to housing and mortgages Consumer choices in the mortgage market and satisfaction level Outlook for the housing and Mortgage markets The synopsis of this report will be presented in a series of three … Read More →

2012 Emerging Trends in Canadian Real Estate

Price Waterhouse-Coopers has published their 2012 Emerging Trends in Real Estate report. The study reflects the views of 950 individuals who completed surveys or were interviewed. The sample represents investors, land developers, real estate firms, investment management institutions, banks and securitized lenders. The report begins by stating how Canadian real estate markets remain the most stable in North America and cites the following reasons: Institutions hold on to the best … Read More →