KANETIX is determined to provide Cambridge residents with all their mortgage needs. We have THE website for finding and comparing the best mortgage rates in Canada. We can secure that rate and help you acquire an online mortgage.

Use our resources to simply collect mortgage information, or to locate a specific rate. With KANETIX, it's an easy process done from the comfort of your home. Our completely free comparison service can find you the best, lowest and most competitive mortgage rates. KANETIX lets you view rates provided by a series of mortgage lenders and brokers throughout Canada.

Click Here to View all Rates

If you're in the market for a mortgage in Cambridge, take a sec to look at the low rates and variety of lenders and brokers you can find here. Our mortgage information centre can update you on all mortgage related data. You'll be able to review articles, including details about mortgage rules that affect the Canadian housing market and help paying off mortgages sooner. You can also get 'questions and answers regarding mortgage and life insurance'. The centre also has a thorough mortgage glossary to provide a better understanding of finance terms.

Why does KANETIX stand out from the competition?

  • You'll have a vast array of lenders and brokers and mortgage products to choose from.
  • We have the best rates to be found in Cambridge.
  • You can get a mortgage guarantee certificate without getting up from the computer.
  • Our services lets you secure and purchase a mortgage online.
  • Our courteous, helpful and experienced agents are at your service.
  • It's fast, secure, safe and free!

What is a Cambridge Mortgage?

Cambridge is located in Southern Ontario. It's a great city, home to popular attractions like the Dunfield Theatre, the Butterfly Conservatory, Riverside Park and the ibowl.ca Family Fun Center. It's a thriving community with a well respected educational situation. Cambridge has top notch shopping, restaurants of all tastes and beautiful sites like the Cambridge Sculpture Garden.

It's not surprising so many are choosing Cambridge as they decide to buy their first home (see: first time home buying tips). Properties in Cambridge have a history of growing in value in the long term.

Buying a home in Cambridge can require a buyer to cover the difference between the down payment and the purchase price. Some will also take out additional equity from existing homes in the form a mortgage. They'll do this to pay off credit card debt, perform home renovations, send the kids to college, take a nice vacation, etc.

Mortgages are acquired through a chartered bank, trust company, credit union, mortgage broker or designated lender. The rate is the interest that's charged on the loan. Mortgage payments are broken up so that a portion covers the interest and the remainder goes to the principal. The portion designated to the principal reduces the mortgage balance.

Finding the Best Mortgage Rate in Cambridge

Using KANETIX to compare rates lets you choose the best of the best. We provide special discounted rates to residents in Cambridge. We know finding a good mortgage can be a stressful process. It's why KANETIX offers this alternative. We do all the shopping for you!

KANEXTIX has a variety of mortgage rates, including fixed rate mortgages, open mortgages, closed mortgages and variable rate mortgages'. They are classified by payment, rate, term, amortization and more. They can be viewed by both lender and broker mortgage loans. We have the resources to help you with first mortgages, second mortgages, mortgage renewals and mortgage refinancing. Use our Cambridge mortgage calculator to see how mortgage rates, amounts, payment frequencies and amortization period affect your payments. KANETIX can help you understand the difference between fixed and variable rate mortgages.

Mortgages are either closed or open. Open mortgages are recommended if you plan to make pre-payments above what's allowed on a closed mortgage. With open mortgages, you pay off the balance at some point before the end of term. A closed mortgage would have payment restrictions. For instance, if you paid more than stipulated in the agreement, a penalty could be incurred.

Mortgage Brokers in Cambridge

KANETIX has partnered with the biggest mortgage brokers in Cambridge. You can browse for the lowest rates. When ready, secure that rate on line or over the telephone. If you have concerns, get in touch with us. Our partnered mortgage brokers are ready to help out.

The mortgage opportunities that we list on KANETIX.ca include full descriptions of features. Discover the best mortgage rates in Cambridge by visiting our mortgage rate comparison page.

Variables that Affect the Lowest Mortgage Rate in Cambridge

Rates can vary from lender to lender and their offered mortgage products. That's the greatest advantage of KANETIX, letting us go through all the data and find the best of the best.

When reviewing mortgages in Cambridge, you have to be informed about factors lenders take into consideration when offering rates. It's important to be as transparent and honest as possible with any info you provide. It is the only to ensure effective and efficient mortgage approval. Worse, if misinformation is discovered, your chance of getting a mortgage is nil.

Feel free to use our mortgage rate comparison services to explore different mortgages and lenders. Secure a rate that will get you approved for a Cambridge mortgage loan quickly and efficiently. The KANETIX mortgage service is available throughout Canada, including in Ontario, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Newfoundland and Prince Edward Island.

Province of Cambridge General Information

  • Population (2012): 132,900
  • Projected Population Growth(2029): 173,000
  • Median Income (2005): $28,928

Mortgage Trends in Cambridge Ontario

Located in southern Ontario along the Grand River is the City of Cambridge. Incorporated in 1973 when the municipalities of Galt, Preston and Hespeler, and the settlement of Blair amalgamated, the City of Cambridge is a charming town that many people enjoy visiting. With its turn-of-the-century architecture and location close to Kitchener, Waterloo, Guelph and other cities, Cambridge is a city that offers much to see and do. While some will choose to visit Cambridge, others take advantage of the employment opportunities and welcoming culture of the area by choosing to call Cambridge their hometown. Whether you are making plans to relocate or you have plans to sell your existing Cambridge home and upgrade to a new home in the area, you may consider taking a closer look at the mortgage trends and real estate market in Cambridge.

A Look at Canadian Mortgage Interest Rates

In August 2013, the average rate in Canada for a five-year fixed rate was about 3.39 per cent. This is down from about seven per cent in 2007. However, it is up slightly from mortgage rates from the previous quarter in 2013, and the increasing trend is expected to continue at a very slow pace in Cambridge and across Ontario and the rest of Canada. The rising mortgage rates are having a mixed effect on the markets. The mortgage rates reached near record lows due to a flailing economy that gripped much of North America several years ago, and the slight rise in interest rates in recent months is seen by experts and consumers alike as a very positive sign that the economy is improving and stabilizing after the recession. However, rising mortgage rates also mean that the buying power of consumers becomes more limited. Because interest rates are expected to rise only slightly throughout 2014, these two effects are expected to balance each other.

Home Prices in Cambridge

Because mortgage interest rates are expected to slowly rise in Cambridge and across Canada, it is important to consider the current and future prices of homes in Cambridge. The average price of resale homes is expected to increase in the coming months, but this is not necessarily due to a rise in local values. In Cambridge and across the local area, fewer first-time home buyers will be entering the market, and an increase in consumer confidence may lead to some existing homeowners upgrading to more expensive homes. Because first-time homebuyers generally purchase homes that are priced at lower levels, the average sales price will trend upward as the majority of the sales will come from existing homeowners who are moving up to a more expensive home. The average price for a resale home in the area in 2013 is $318,000, and the average price for a resale home for 2014 is projected to be $324,000. While there will be a slight rise in the average price of homes, it is expected that there will still be many affordably priced homes available for buyers to choose from.

New Home Starts

While the number of first-time home buyers in the Cambridge area and the entire Waterloo region is expected to decrease, the number of new home starts is expected to increase. New home starts in the area for 2013 was 800 units-a figure that is expected to rise to 850 units in 2014. In addition, the average cost of these homes is significantly higher than the value of resale homes. In 2013, the average cost of a newly built home was $443,000, and this is expected to increase to $452,000 for 2014. This may reflect the fact that some existing homeowners in the area will be building new homes rather than selecting existing or resale homes when making an upgrade. This is a positive sign of increasing consumer confidence in the local area.

A Look at the Economy

To get a more accurate idea about what the real estate market in Cambridge and the rest of the Waterloo area will do in the near future, it is important to consider other economic factors as well. For example, net migration into the local area has held steady for the past few years with about 1,100 people moving into the area roughly every year since 2011, and this is expected to continue into 2014. In addition, the unemployment rate in the area is currently 5.4 per cent, and this is expected to improve slightly to about 5.3 per cent in 2014. These factors will both have positive effects on the demand for housing in the local area. With slight population growth, the demand for housing will increase marginally. In addition, a decreasing unemployment rate will enhance consumer confidence and drive spending. These are positive factors that can help consumers who are thinking about buying real estate in the near future to make a purchase with confidence.

An Analysis of the Real Estate Market

There are many factors that affect real estate prices as well as mortgage trends in the local area and throughout Canada. Real estate supply and demand alike coupled with mortgage rates and economic conditions can all affect each other, so it can be difficult to accurately predict what the future may hold. However, most experts agree that a slow but steady increase in mortgage interest rates is reasonable to expect throughout 2014. It is also reasonable to expect relatively positive and stable economic conditions in Cambridge in the coming year. If these factors hold, a slight rise in housing prices and a slight decrease in demand-or a stabilization in demand-in the residential market is reasonable to expect.

Whether you have plans to move into Cambridge or to buy or sell an existing home, it's important to understand what the current real estate conditions are and review forecasted conditions and mortgage trends. This can help you to determine if you want to act now with your plans or wait for the future. While market conditions and rates are expected to change over the coming year, the change is projected to be moderate at best.

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