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Can’t Get a Bank Mortgage? How Do Private Mortgages Work?
Not everyone can qualify for a mortgage these days. Government regulations targeting down payments, investment properties and high-ratio buyers mean that more Canadians won’t qualify for a home loan.
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In the Wake of New Lending Rules, Variable-Rate Mortgages are Becoming More Popular in Canada
New mortgage rules have made it harder for Canadians to qualify for five-year fixed rate mortgages. Luckily, variable rates continue to offer more savings.
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Canada’s Mortgage Rates Remain Low – For Now
Canada’s mortgage rates remain near historic lows, but developments south of the border indicate a shift may be under way.
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Ottawa’s New Mortgage Rules Could Trigger Affordability Crisis for Canadians
Ottawa’s new mortgage rules are designed to stabilize the housing market, but could actually create more affordability challenges for cash-strapped Canadians.
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Bank of Canada (BOC) Expected to Keep Rates Low Until 2017, Providing More Fuel for Housing Market
After cutting the benchmark interest rate to 0.5% in July 2015, the Bank of Canada (BOC) has remained largely on the sidelines, as the world’s eleventh largest economy battled plunging oil prices and slowing international demand.
Read moreAn Example of Flaherty Doing More Harm than Good when it Comes to Mortgage Rates
It being the last day for BMO’s five-year discounted mortgage rate, we thought it would be an appropriate time to have the last word on Flaherty’s controversial stirring of the pot when it comes to mortgage rates in Canada. This time to say that, when critics said that Flaherty was only drawing more attention to…
Read moreToday is Last Day to Take Advantage of BMO’s Five-Year Mortgage Deal
Although it’s certainly not the reason for BMO’s announcement, this is certainly news that’s going to make Finance Minister Jim Flaherty happy. The bank will be ending their discounted offer of 2.99 per cent five-year mortgages that it announced earlier this month. As now stated on the bank’s website, that rate will only be available…
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