Whittle Mortgages

03/12/2025

Bank of Canada cuts rates to 2.75% The move means more relief for those with variable-rate mortgages and lines of credit.

02/03/2025

Economists say Bank of Canada should make unscheduled cut to its overnight rate to temper effects of tariffs.

“Note that an emergency action would argue for a larger-than-normal cut of at least 50 basis points,” they wrote, adding they would still call for 25-basis-point cuts on March 12 and again in April to bring the benchmark rate, which determines variable interest rates in Canada, down to 2% by the spring.

01/29/2025

BREAKING: The Bank of Canada has cut its policy rate by another 25 bps, bringing it to 3.00%. Announces end of quantitative tightening.

12/11/2024

BREAKING: The Bank of Canada has cut its policy rate by another 50 bps, bringing it to 3.25%. Prime rate at most lenders is expected to drop to 5.45% (except at TD, which maintains a mortgage prime rate priced 15 bps higher).

11/01/2024

10/23/2024

Bank of Canada delivers jumbo 50 basis point cut!

09/25/2024

NO MORE STRESS TEST ON RENEWALS!!! Another step in the right direction!

The Office of the Superintendent of Financial Institutions (OSFI) will no longer require banks to apply the mortgage stress test on borrowers who switch lenders if they are simply renewing their loan, the regulator told The Globe and Mail on Wednesday.

09/18/2024

Some may have missed this yesterday!

Expanding eligibility for 30 year mortgage amortizations to all first-time homebuyers and TO ALL BUYERS OF NEW BUILDS, effective December 15, 2024, to reduce the cost of monthly mortgage payments and help more Canadians buy a home.

09/16/2024

GREAT NEWS FOR FIRST TIME HOME BUYERS!

(Bloomberg) - Prime Minister Justin Trudeau's government will make 30-year mortgages available to all first-time buyers and to buyers of newly built homes as the embattled leader tries to win back the approval of younger Canadians.
The government will also begin allowing mortgage default insurance on homes with up to
C$1.5 million ($1.1 million) in value, an increase from the current cap of C$1 million. That means buyers can bid on more expensive homes even if they have less than a 20% down payment - as long as they purchase insurance.
"We are now making the boldest mortgage reforms in decades to unlock homeownership for younger Canadians," Finance Minister Chrystia Freeland said in a news release. The moves will take effect Dec. 15.

09/04/2024

Bank of Canada delivers third straight interest rate cut, bringing policy rate down to 4.25%

07/24/2024

Bank of Canada lowers key interest rate to 4.5%, delivering back-to-back cuts.