Rouse Mortgages

06/04/2020

The country's biggest mortgage insurer is tightening new homebuyer's belts. New mortgages will be insured at higher credit scores and more conservative debt loads. The good news is that interest rates will likely remain low, but this move will surely affect homebuyer demand.

05/28/2020

I've launched a web site dedicated to Reverse Mortgages in BC and written a 14-page guide outlining how this option can be powerful, tax-free alternative in times of financial uncertainty for homeowners 55+.

Reverse Mortgage BC Calculator - Use our free reverse mortgage estimate service, and read our 14-page guide.

03/13/2020

Another half-a-percent cut in Bank of Canada's overnight rate. Expect the prime rate to drop by the same amount next week.

03/12/2020

Five-year fixed now at 2.24%. Excellent time to pre-qualify, even if you're not thinking of looking just yet.

03/10/2020

Five-year fixed now at 2.29%. Great time to pre-qualify for up to 120 days' rate protection.

03/06/2020

Thankfully, the major lenders followed BoC's lead slashed the prime rate to 3.45%. So three-year variables are now 2.40%. Meanwhile, five-year fixed is as low as 2.34%.

03/03/2020

...aaaaaand yields on GoC five-year bonds have now dropped below 1% for the first time in about 4 years. Lenders will likely slash fixed mortgage rates further.

03/03/2020

Despite the "incendiary" headline (ahem), this pretty much nails it. The U.S. fed cut its rates this morning, which sets the stage for other central banks to loosen the purse strings as well. Fixed rates have been tumbling of late; expect our prime rate (on which variables mortgage rates are based) to follow.

Canada’s housing market is poised for a hot spring -- with lower mortgage rates likely to offset any major drag from the coronavirus.