The Bank of Canada governor, Till Macklem, made no change to interest rates on April 21st, the 3rd of 8 annual meetings dates. This comes as no surprise, though, There wasn’t a chance of an interest rate hike anyway. You can read more on this here .Continue reading “Interest Rates to Stay As-is for Now. But When Will They Rise Again?”
While average mortgage size and average real estate prices have gone up, interest rates have not. They’ve actually done the opposite. And they have gone significantly lower.
A $400,000 mortgage will cost you $1400 per month today. Compare this with $1682 per month from a few years ago. Or how about a payment of $2,182 per month From 15 years ago.Continue reading “How to benefit from record low interest rates”
Rates are at all time lows and are expected to stay that way for a while! This means payments can’t go much lower. Let’s put interest rates and mortgage costs in perspective.
Here is what MORTGAGE PAYMENTS on a $400,000 mortgage look like with a 30 year amortization:Continue reading “Rates are at all time lows”
Another great Q & A between myself and Jenelle Cameron of Remax. We had a chance to discuss what’s happening with mortgages, interest rates and the real estate market in general.Continue reading “Mortgage and Real Estate Q & A | April 23 2020”
Following are the highlights from a telephone conversation with Jean-Francois Perrault, Chief Economist Scotiabank and John Webster, President and CEO Scotia Mortgage Corporation which took place on Thursday, April 9, 2020 at 4:30 p.m.
First, it’s not all bad news. While I’ll have to include some unpleasant information in order to provide a complete picture, that is not the focus.