November 2022

“The variable customer is in good shape,” says Scotiabank

“The variable customer is in good shape,” says Scotiabank

Scotiabank reaffirmed the strength of its variable-rate mortgage portfolio, despite the higher costs faced by borrowers due to rising interest rates.  Scotiabank reaffirmed the strength of its variable-rate mortgage portfolio, despite the higher costs faced by borrowers due to rising interest rates.  Mortgage Rates & Mortgage Broker News in Canada 

RBC makes a $13.5-billion bid for HSBC Canada

RBC makes a $13.5-billion bid for HSBC Canada

Canada’s largest bank is planning to become even bigger with a $13.5-billion offer to purchase the Canadian banking arm of HSBC.  Canada’s largest bank is planning to become even bigger with a $13.5-billion offer to purchase the Canadian banking arm of HSBC.  Mortgage Rates & Mortgage Broker News in Canada 

As bond yields fall, mortgage providers are cutting fixed mortgage rates

As bond yields fall, mortgage providers are cutting fixed mortgage rates

With bond yields nearly 60 basis points off their highs reached earlier this month, fixed mortgage rates are slowly following and trending downward.  With bond yields nearly 60 basis points off their highs reached earlier this month, fixed mortgage rates are slowly following and trending downward.  Mortgage Rates & Mortgage Broker News in Canada 

The Latest in Mortgage News: Recent hikes are “painful” for variable-rate mortgage borrowers, says BoC

The Latest in Mortgage News: Recent hikes are “painful” for variable-rate mortgage borrowers, says BoC

Homebuyers with a variable mortgage rate are facing a “painful” adjustment as interest rates continue to rise, the Bank of Canada’s Senior Deputy Governor Carolyn Rogers said this week.  Homebuyers with a variable mortgage rate are facing a “painful” adjustment as interest rates continue to rise, the Bank of Canada’s Senior Deputy Governor Carolyn Rogers …

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50% of variable-rate mortgage holders have reached their trigger rate: BoC

50% of variable-rate mortgage holders have reached their trigger rate: BoC

Roughly half of all mortgage holders with static-payment variable-rate mortgages have already reached their trigger rate, according to a new report from the Bank of Canada.  Roughly half of all mortgage holders with static-payment variable-rate mortgages have already reached their trigger rate, according to a new report from the Bank of Canada.  Mortgage Rates & Mortgage …

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Housing demand may be reaching a bottom

Housing demand may be reaching a bottom

After plummeting more than 40% since February, home sales are showing signs they may be reaching a bottom.  After plummeting more than 40% since February, home sales are showing signs they may be reaching a bottom.  Mortgage Rates & Mortgage Broker News in Canada