variable rate mortgages

Banks and lenders cut fixed mortgage rates

Big banks slash mortgage rates this week to reflect lower bond yields in Canada

January 12, 2024 No Comments

Nearly all of the country’s big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%).

Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show

November 23, 2023 No Comments

High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September.

Three of the big banks have just lowered fixed mortgage rates. Will more follow?

November 20, 2023 No Comments

Lenders have been dropping fixed mortgage rates over the past few weeks…except for the Big 6 banks. But that changed this weekend when three of the big banks finally lowered select rates.

Several big banks to be impacted by OSFI’s new capital requirements for negative amortization mortgages

November 16, 2023 No Comments

Canada’s banking regulator recently confirmed it will move ahead with new capital requirements for lenders and insurers with negatively amortizing mortgage portfolios.

How fixed-payment variable rate mortgages have saved the economy

How fixed-payment variable-rate mortgages have saved Canada’s economy, and why their future could be at risk

August 2, 2023 No Comments

Canada’s economy has so far managed to avert recession and shrug off the fastest rate-tightening cycle in the nation’s history. And one of the key

“Extremely resilient” variable-rate borrowers face latest test as prime rate rises to 7.20%

July 17, 2023 No Comments

Variable-rate mortgage borrowers, who have already seen their interest costs rise by more than 70% over the past year, were hit with yet another hike last week as prime rate reached a 22-year high of 7.20%.

Popularity of variable-rate mortgages plummets to pre-pandemic levels

June 20, 2023 No Comments

The popularity of variable-rate mortgages is continuing to fall and is now nearly at levels last seen prior to the pandemic in early 2020.

“More pain” for variable-rate mortgage holders as the BoC hikes rates

June 7, 2023 No Comments

Variable-rate mortgage holders are in for “more pain” following the Bank of Canada’s half-expected decision to hike interest rates again.

RBC and NBC are the latest big banks to hike fixed mortgage rates

June 2, 2023 No Comments

RBC and National Bank became the latest Big 6 banks to increase their posted fixed rates this week, following previous increases by BMO and CIBC.

Photo: Brent Lewin/Bloomberg via Getty Images.

National Bank is cautiously optimistic interest rates will hold steady — and eventually drop — in 2023.

February 15, 2023 No Comments

National Bank economists argued in a recent webcast that all signs point to a soft landing by mid-year, with interest rates remaining in their current position.