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Posted by: Alessandro Lauro
Remember when five-year fixed mortgage rates dipped below 4%? That little breath of relief? Yeah… it’s gone. Mortgage rates in Canada are on the rise again — and not because of anything happening in your backyard. It’s what’s happening south of the border that’s driving the change, and if you’re planning to renew or buy […]
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If you’ve been watching the mortgage market in Ontario, you’ve probably noticed some shifts lately. 📈 Fixed mortgage rates are creeping up, and the discounts on variable rates are shrinking. As your trusted mortgage agent, I’m here to break down what’s going on, why it matters, and how YOU can make the best move-whether you’re […]
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Here’s a twist you might not expect in today’s market: younger Canadians are actually paying down their mortgage debt — while older homeowners are taking on more. According to new data from Statistics Canada, homeowners under 35 reduced their mortgage balances by nearly 5% year-over-year in Q4 of 2024. Surprised? You’re not alone. 🧑💼 Why […]
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🏡 “End the Housing Game”: What It Means for You as a Homebuyer or Homeowner As a mortgage agent, I’m not just here to help you get the best rate—I’m also tuned into the bigger picture. One major conversation heating up right now across Canada is housing affordability. And it’s not just buyers and renters […]
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Over the past two weeks, bond yields have dropped more than 30 basis points (0.30%). Historically, this would lead to lower fixed mortgage rates since bond yields significantly influence their pricing. Yet, many lenders, including three of Canada’s Big 5 banks, have done the opposite—raising their fixed mortgage rates. What’s Happening with Fixed Mortgage Rates? […]
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The Bank of Canada has announced a reduction in its target for the overnight rate by 25 basis points, bringing it down to 4.25%. This decision aligns with the Bank’s ongoing strategy of balance sheet normalization. Global Economic Overview The global economy saw a 2.5% expansion in the second quarter, which is consistent with the […]
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Despite recent declines in mortgage rates, Canadian real estate activity has not yet seen a significant boost, according to the latest data. National Home Sales Sluggish In July, national home sales dropped by 0.7% compared to June, according to the Canadian Real Estate Association (CREA). Although activity is still 4.8% higher than it was a […]
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As millions of Canadian homeowners face mortgage renewals in the near future, many are feeling the pressure of higher payments due to persistently high interest rates. Advice for Homeowners Facing Mortgage Renewals According to the Canada Mortgage and Housing Corporation (CMHC), around 2.2 million mortgages are set to renew in 2024, representing over 45% of […]
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These changes are largely driven by growing concerns about economic stability amidst global financial pressures. In particular, Japan’s unexpected policy shift and U.S. recession fears play a key role. Moreover, Japan’s decision to raise its short-term policy rate disrupted the yen carry trade. This, in turn, caused a ripple effect in global markets, impacting Canadian […]
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1. Economic Slowdown: When the Canadian economy isn’t growing as expected, signs might include lower GDP growth, reduced consumer spending, and decreased business investments. In such a scenario, the Bank of Canada might lower interest rates to stimulate economic activity. Lower rates make borrowing cheaper for consumers and businesses, encouraging them to spend and invest […]
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