With interest rates at a historic low, Canadian homeowners and buyers are eagerly locking in new mortgages. The question however is, how long should my mortgage term be? It's tempting to stick with the old reliable 5-year term - especially with lenders offering fixed rates as low as 2.49%, but...
Who dropped the ball on mortgage deferrals?
When COVID-19 shut down the Canadian economy in March, homeowners across the country, facing the prospect of falling behind on their mortgage payments, through no fault of their own, panicked. These borrowers were thrown a lifeline by Canada's major financial institutions, who offered them the possibility of deferring those payments...
While Mortgage Rates are low, should I think of refinancing?
While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory. Should you perhaps think of refinancing now? Concerns over a second wave of COVID-19 have caused Canada's 5-year bond yield to fall to its own record-low, which in turn is pulling...