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Choosing between a Fixed and Variable Mortgage Rate

Today, most rates on Canada’s most popular mortgage – the five-year fixed – are at or north of 3 per cent. In just the past three months alone, the five-year government yield – which leads fixed mortgage rates – has rocketed 75 per cent higher. Despite mounting...

Where will Mortgage Rates go from here?

After the Bank of Canada announced last month that it would be standing pat on interest rates (for now), mortgage holders are wondering what’s next. Is it time to lock in? If renewal is in your future, should you choose variable or fixed? How high are rates going to...

New Mortgage Stress Test – January 1, 2018

Canada’s banking regulator today unveiled in October final changes to its mortgage underwriting standards—Guideline B-20—that will further tighten lending standards and affect borrowers and lenders alike. The most wide-reaching change announced by the Office of the...

The Not-So Hidden Gem of Edmonton’s Real Estate Market

Alberta is known for its oil sands, and it should be: Alberta’s oil sands are the third-largest proven crude oil reserve in the world. But Alberta’s provincial capital, Edmonton, has much to offer, including research, education, and, for first-time home buyers,...

Bank of Canada Rate Update – No Change

The Bank of Canada today announced that it is maintaining it’s target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. The global economy is progressing largely as the Bank anticipated in...

New CMHC Down Payment Rules Now in Effect

New federal mortgage rules are now officially in effect, but most market watchers don’t expect to see much change. Just to recap: Ottawa has boosted the minimum down payment on insured mortgages valued at $500,000 to $999,000. In order to get mortgage insurance...

Foreign Real Estate Investment in Canada

Questions about foreign ownership in Canada’s real estate market have been loud, lingering and largely unanswered. Canada Mortgage and Housing Corporation is promising to address that with the release of its latest Housing Market Insight (HMI) report on...

November Housing Market Commentary

Strong employment numbers in both Canada and the United States have market watchers focusing on interest rates again, especially in the U.S. The Canadian figures, while impressive, are not as significant as the American numbers. Canada generated 44,000 new jobs in...

Slower Housing Starts

Welcome to Mortgages For Less.ca, forward thinking Calgary mortgage brokers. With home prices continuing to rise and and the on-going rebound in sales the home selling industry is looking forward to a good year in 2014. But the home building industry is showing...

RRSP or Mortgage Pay-Down?

If you’re looking for a skilled Calgary mortgage broker please give us a call today: 403-241-3255 At this time every year the perennial question arises, pay down the mortgage or top up the RRSP? Traditionally the answer has been, top up the retirement savings...