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My Mortgage Blog — Latest Posts
Canadian housing market activity picked up in June
The Canadian housing market saw a modest increase in home sales in June, according to the latest report from the Canadian Real Estate Association (CREA). Home sales in Canada rose by 3.7% in June...
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Fixed Vs Variable over 5 years ..which is better assuming 5 .25BPS rate drops
To compare the interest paid on a $500,000 mortgage with 20 years left on amortization under a 5-year term:4.99% Fixed RateCurrent Variable Rate at 6.2% with Expected Rate Drops:5 drops of 0.25%...
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Jobless rate rises to 6.4% in June, raising questions about the BoC's next rate
Canada's labour market fell short of expectations in June, leading to an increase in the unemployment rate to 6.4%. Despite this weak report, most economists believe the Bank of Canada will not...
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Compare fixed rate vs Variable for 3 years term
o compare the fixed rate mortgage to the variable rate mortgage, we need to calculate the following for both scenarios over the 3-year term:Monthly paymentsTotal interest paidEnding mortgage...
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