RBC cuts 5-year fixed mortgage rate

Robb NelsonMortgage Talk Canada

Royal Bank of Canada has lowered its posted five-year fixed rate by 15 basis points from 3.89 per cent to 3.74 per cent. Mortgage rate comparison website founder Robert McLister says RBC is the first of the Big Six banks to cut its advertised five-year fixed rate after a fall in five-year bond yields. McLister adds that he expects other big … Read More

The problem with the Canadian government’s mortgage stress test

Robb NelsonMortgage Talk Canada

Josh Sherman Jan 5, 2019 On a recent segment of BNN Bloomberg, Toronto realtor John Pasalis voiced support for extended mortgage stress testing nearly a year to the day after the federal government introduced it. “The stress tests are great,” Pasalis says of the measure which requires mortgage applicants to qualify for their loans at a higher interest rate than they are … Read More

71% of Canadians Think the Federal Government Needs to do More to Improve Housing Affordability

Robb NelsonMortgage Talk Canada

Sarah Niedoba The dream of owning a home in many of Canada’s largest cities has become increasingly out of reach for the average would-be buyer. And according to a new survey, the majority of Canadians think the government should be doing more to help. Up to 71 percent of Canadians believe that the federal government should be doing more to … Read More