It wasn’t so long ago that there was hardly any doubt that Canadians would be seeing higher mortgage rates this year. The Bank of Canada was widely expected to continue on its path of tightening monetary policy with continued increases to the overnight rate, which influences mortgages, particularly those with variable rates. While that may still be a majority consensus among market watchers, mortgage broker Elan Weintraub is hearing conflicting viewpoints these days. “I... [read more]

Canada’s mortgage market has been turned upside down, and it’s giving borrowers an uncommon advantage, a new report suggests. “With long-term rates lower than short-term rates, home buyers have had a rare opportunity to lock in longer maturity fixed-rate mortgages at lower rates than if they had opted for variable rate mortgages,” writes Scotiabank Deputy Chief Economist Brett House, alongside senior research analyst Raffi Ghazarian, in a Global Economics Scotia Flash... [read more]