Archive | Mortgage Rates

Credit Protection Insurance a plus for Most Canadians

A family of four moving into their new home.

A credit protection study conducted by the Canadian Association of Financial Institutions in Insurance (CAFII) found 87 percent of Canadians are happy with their experience. Credit protection insurance (CPI) is a safeguard for Canadians who start a new mortgage or open a home equity line of credit (HELOC) loan. Canadians are Satisfied with Creditor's Insurance ... Continue Reading

As Interest Rates Rise, So Does Canadians' Financial Anxiety

With another interest rate hike now on the books, the change has some Canadians uncertain about their financial future. The Bank of Canada recently announced an increase in its key interest rate from 1 to 1.25 per cent and, subsequently, most major banks have raised their prime lending rates 25 basis points as well to ... Continue Reading

Ontario Introduces Measures to Cool Hot Housing Market

Ontario Introduces Measures to Cool Hot Housing Market

The Government of Ontario is trying to cool the jets on a hot housing market. As reported by the Ontario government, the average house price in Toronto reached $916,567 in March 2017, which is up 33.2 per cent from last year. To put the entire situation in perspective, RBC Economics said housing affordability for the ... Continue Reading

What Trump’s Win Could Mean for Canadian Travellers and Borrowers

What Trump’s Win Could Mean For Canadian Travellers and Borrowers

Many Canadians simply didn't see it coming - after months of watching the run-up to the U.S. presidential election from north of the border, we woke up on November 9th (or simply didn’t go to bed) to learn Donald Trump was the victorious candidate. He will be president of the United States, our largest trading ... Continue Reading

What to Do Now That TD Canada Trust Has Hiked Its Mortgage Rate

Bank goes at it alone, raising their prime rate on variable mortgages. It will now take longer for TD Canada Trust customers to pay off their variable mortgages, after the bank raised its prime mortgage rate this week. TD hiked its rate from 2.7 per cent to 2.85 per cent: meaning the total cost of ... Continue Reading