The Key to Getting the Right Mortgage for You

Whether you are a first time home owner looking for a mortgage lender or are in the process of renewing your mortgage, it’s always good to shop around. Read more

Bond Yields are Rising – What this Means for You

This just in from one of Home Mortgages Calgary’s lenders: Due to a new 5 year rate of 4.09%, Canadian 5 year bond yields are up 14bps to 2.71. It was only a month ago that 5 year bond yields were at 2.07. Read more

Variable Rates on Their Way Down

Over the last few weeks one of Home Mortgages Calgary’s mortgage lenders dropped their rates on their Adjustable Rate Mortgage product to prime plus 0.4%. This deal is not as sweet as the prime minus 0.9% rates of yesteryear however, at least we see that conditions are improving. Read more

The Long-term Implications of a ‘No-Frills’ Mortgage

In the long run, ‘no frills’ mortgage products might not be as convenient as they seem to be right now. At the moment, mortgage brokers are proffering products that offer people a lower rate at the cost of benefits associated with lump sum payments, portability and assumability. Read more

Mid-May Mortgage Rate Update

In the past few months, we’ve seen mortgage rates continue to decrease, albeit very slowly. That trend could be short-lived, however, since fixed rates are tired to bond yields – and bond yields are starting to increase. Because lenders still need to make a profit, their rates have to rise as bonds’ rates do. Therefore, if you’re looking to purchase or refinance, it’s a good idea to do it soon. Read more

February and Early March Rate Update

The tough economic times are continuing, and so are the mortgage rate decreases. On March 3rd we saw the Bank of Canada lower its overnight lending rate by another 0.5%, bringing it to a new all time low of 0.5%. We can expect most mortgage lenders to pass the full 0.5% decrease on in their prime rates, as well. Read more

Low Mortgage Rates and Your Mortgage

Mortgage interest rates are currently at historically low levels, and that means interest savings for mortgage consumers. However, with these low rates comes some concern and speculation from current and potential home owners… Read more

January Mortgage Interest Rate Update

In the past month, we’ve seen interest rates move lower, partially because of the Bank of Canada’s declaration that Canada is now officially in the midst of a recession. That doesn’t, however, mean it’s not a good time to buy – mortgage interest rates are at historical lows right now, and the housing market has a fair amount of inventory sitting there waiting to be purchased. Without further ado, here are January’s mortgage interest rates! Read more

December Mortgage Rates in Calgary

1 year: 4.35%
2 year: 5.05%
3 year: 4.84%
4 year: 4.79%
5 year: 4.89%
7 year: 5.80%
10 year: 5.95%
Variable/ARM: 4.10%
HELOC: 4.50% Read more

Beware of the Great 1-Year Mortgage Rates!

Great one year fixed term mortgage rates are abundant in the Canadian mortgage market right now. At a time when most other mortgage rates are slowly rising, it’s a bit of an odd phenomena to see one year rates dropping lower and lower. It makes us question what the lenders’ motivations are behind having these rate specials. Read more