Rate Emails Archive

The BC First-Time New Home Buyers’ Bonus is a one-time bonus payment worth up to $10,000 for first-time new home buyers in BC. Applicants can receive a cheque of up to $10,000, if they qualify, and the amount of the bonus is not taxable. The legislation for the BC First-Time New Home Buyers’ Bonus is [...]

Most lenders raised their rates yesterday and many of the rate specials have come to an end. However, historically we are still in an extremely low interest rate climate. The lowest 5 year fixed is now 3.25% (Must have an accepted offer and be completing within 90 days) up from 2.98% yesterday. For pre-approvals and [...]

The cost of funding fixed-rate mortgages surged this week as bond yields escalated. The 5-year yield is up over 30 basis points in 10 days, and 45 bps since the end of January. That means lenders could start pulling some fixed-rate specials and/or increasing rates in general, as early as next week. Some have already [...]

Good morning, As you know, your variable rate mortgage, lines of credit and/or student loans are all based on the Prime Rate and as promised, here is your personal update from us on the recent Bank of Canada announcement on changes to their Overnight Rate which in most cases impacts your Prime Rate. At 9:00 [...]

Two years ago to the day, the Finance Department promised to “bring greater clarity to the calculation of mortgage pre-payment penalties.” Later this year, that promise will become realized. The government has just announced a brand new mortgage “code” that requires federal financial institutions to: “…provide more information on how prepayment charges are calculated.” “…explain [...]

OTTAWA — Canada’s housing market will remain steady this year and through 2013, with home prices expected to rise moderately, Canada Mortgage and Housing Corp. said Monday “With the Canadian economy set to expand at a moderate pace and mortgage rates expected to remain low, activity levels in 2012 in both new home construction and [...]

test

One model cited by the Bank of Canada (BoC) attributes 2001 to 2010 home price gains to the following: Increasing population 33% Rising incomes: 24% Declining mortgage rates: 13% Other (including “a recovery from the sluggish price growth of the 1990s”): 29% (source: Rob McLister)

Good news for spring buyers starting on April 1, 2012, the Finance Minister Kevin Falcon announced that the government will raise the HST rebate threshold from the current $525,000.00 to $850,000.00. That means that more than 90% of people buying new or substantially renovated homes, will be eligible for the rebate of up to $42,500.00, [...]