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Welcome to the Mortgages for Less blog! Here, you'll find expert advice, industry news, and helpful tips to guide you through every step of your home financing journey. Whether you're a first-time homebuyer or looking to refinance, our blog is your go-to resource for staying informed and making smart mortgage decisions.

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  • June 9, 2023

    Weaker May employment numbers in Canada could impact the Bank of Canada's rate announcement in July, potentially reducing the likelihood of a rate increase. With employment figures falling below expectations, the inflation outlook may be affected.

  • June 8, 2023

    The Bank of Canada's decision to raise interest rates again brings more challenges for variable-rate mortgage holders. With strong economic data and inflation on the rise, borrowers can expect increased monthly payments and an extended amortization period, leading to more financial strain in the housing market.

  • June 7, 2023

    The Bank of Canada raised its interest rate today, after holding it steady for a few months. Inflation is still a concern globally, and prices are higher than they should be. The Canadian economy performed better than expected, with more people spending money and the GDP going up. Real estate is HOT in major cities,…

  • June 5, 2023

    The odds of the Bank of Canada raising rates at this week's monetary policy meeting are essentially a coin toss, according to economists. While the decision could go either way, the markets indicate a slightly higher chance of the bank maintaining the status quo for another month. This is primarily to wait for the release…

  • June 3, 2023

    Canada's strong Q1 2023 GDP growth fuels speculation of rate hikes by the Bank of Canada. Experts debate whether to raise rates in June or July, considering inflation and business investments. Uncertainty surrounds the central bank's upcoming decisions.

  • May 30, 2023

    Recent weeks have witnessed a surge in mortgage rates at various lenders, including several of the Big-5 Banks in Canada, as the Government of Canada's 5-year bond yield experiences a significant increase. This rise in bond yields, currently at a 14-month high of 3.58%, has prompted mortgage rate hikes, primarily targeting shorter terms. The shifting…

  • May 29, 2023

    The recent uptick in Canada's annual inflation rate has sparked a debate among economists regarding whether the Bank of Canada should raise interest rates once again. While some experts caution against premature rate increases, Scotiabank's chief economist suggests that the central bank should take immediate action to address potential inflation risks. Jean-François Perrault, Chief Economist…

  • May 26, 2023

    [et_pb_section fb_built="1" admin_label="section" _builder_version="4.16" global_colors_info="{}"][et_pb_row admin_label="row" _builder_version="4.16" background_size="initial" background_position="top_left" background_repeat="repeat" global_colors_info="{}"][et_pb_column type="4_4" _builder_version="4.16" custom_padding="|||" global_colors_info="{}" custom_padding__hover="|||"][et_pb_text admin_label="Text" _builder_version="4.22.1" background_size="initial" background_position="top_left" background_repeat="repeat" global_colors_info="{}"]In recent months, there has been a noticeable shift in the preferences of Canadian homebuyers when it comes to mortgage terms. According to data from the Canada Mortgage and Housing Corporation (CMHC), over one…

  • May 23, 2023

    In a surprising turn of events, the Canadian housing market is experiencing a shortage of new home listings, with homeowners showing reluctance to sell their properties. This has led to a surge in home prices, leaving potential buyers facing limited options and entering bidding wars. While there may be multiple factors at play, one significant…