Why do we stay with them? Complacency is a big reason. A lack of knowledge is another. By: Justin Thouin Via: Huffpost Whenever one of these major Canadian banks tweak their mortgage rates, it makes headlines. Like last month, when RBC dropped its five-year fixed-term mortgage rate by 0.15 percentage points (or 15 basis points) to 3.74 per cent. Every major news outlet … Read More
RBC cuts 5-year fixed mortgage rate
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
Banks Won’t Touch Your Construction Loans, And Here’s Why You Don’t Want Them To
By: Robb Nelson Building you own home? Let us explain why private financing is used vs bank financing. There is something primally satisfying about building your own home as you get to take a blank slate of land and turn it into the home of your dreams where everything is laid out the way you want. You get to make all … Read More
The problem with the Canadian government’s mortgage stress test
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