DiscountMortgageCanada.com Blog

Housing sales across Canada are set to reach new highs
Fri, 04 Dec 2009 - By Garry Marr, Financial Post and Roy Singh The national numbers from the Ottawa-based Canadian Real Estate Association are not due out until mid-December but the Toronto Real Estate Board said yesterday it had its best November on record. Toronto’s news came on the heels of a Wednesday r...

Rent to Own when the bank will not approve you for a Mortgage
Thu, 26 Nov 2009 - Are you tired of paying rent and exhausted from dealing with inflexible banks? Well you are not alone. Banks and traditional lenders are tightening their belts when approving mortgage applications. This means many good incomes are faced with circumstances that make it next to impossible to recei...

Inflation is just what is needed to get the US back on track
Thu, 23 Jul 2009 - The Canadian economy is largely tied to the US economy and it has been said that when the US gets a sniffle, Canada catches a cold. As the largest trading partner of Canada a healthy US economy is vital to our success. One of the major stumbling blocks in preventing the US economy from recovering i...

Why are Rates Increasing?
Tue, 07 Jul 2009 - Interest rates have risen in the past few weeks and many people are wondering why, because the Bank of Canada has not raised interest rates!  The Bank of Canada post the bond rates on a daily basis and by looking at this one can predict if interest rates will be head...

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...