DiscountMortgageCanada.com Blog

Is it worth breaking a mortgage and paying the penalty?
Mon, 25 May 2009 - When selling or refinancing you must take into account the penalty being charged by the banks. Many lenders will charge either a three months penalty or interest differential (IRD) depending which is higher.   The three months penalty is easy to calculate in that you take the outstand...

Long Term Mortgages Hit Bottom and are on the way up
Mon, 04 May 2009 - Long term mortgages have hit the bottom and are likely to increase as bond rates have headed higher and are above 2% mark. The bond rates is the key factor that determines the long term interest rates as many lenders price their mortgages based on the bond rates. Typical pricing is 1.5 – ...

Unexpected Move by the Bank of Canada
Tue, 21 Apr 2009 - OTTAWA - The Bank of Canada has taken its influential target interest rate to the lowest practical level in an effort to combat what it says is deeper and more widespread global recession. The dramatic actions - and more are expected Thursday when bank governor Mark Carney u...

5 Year Mortgages at all time low
Thu, 16 Apr 2009 - This is unchartered waters in that most of the lenders in Canada has reduced their 5yr interest rates below 3.95% for their best clients. Best clients means people with good credit history, enough income to service the mortgage and good job stability. For those really excellent credit clients, the ...

Consumer confidence picked up in March
Tue, 24 Mar 2009 - TORONTO (Reuters) - Consumer confidence picked up in March as more Canadians said now was a good...

The best countries for business, 2009
Mon, 23 Mar 2009 - by Jack Gage Thursday, March 19, 2009 The disaster isn't shared equally, though. Some countries are in a much better position than others to rebound from the current malaise by attracting entrepreneurs, investors and workers. Who are they? Our fourth annual Best Countries for Business ranking...

Retail sales rebound in January
Mon, 23 Mar 2009 - Retail sales rebound in January Economists not sure the worst is over, but figures are greeted with enthusiasm anyway The Canadian Press...

US to run 10 Trillion in Budget Deficit over the next 10 years
Fri, 20 Mar 2009 - The Associate Press today announced that the United States will run a budget deficits averaging almost $1-trillion a year over the next decade, according to the latest congressional estimates, significantly worse than predicted by the White House just last month. As the debt grows more and mo...

Bank of Canada reduces interest to near zero
Fri, 06 Mar 2009 - The Bank of Canada today reduced their key overnight rate to an all time low of .50%, essentially zero and the question is whether or no the banks will pass along this rate cut. In subsequent reductions the banks failed to pass on the full discount and if they had, the banks interest rate of prime...