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As the COVID-19 has taken the whole world by a shock,  mortgage rates  in Canada have been at historic lows for quite a while now from over 5.97% to 2.94%. Today, many people are showing interest in getting a new home due to these low mortgage rates. Today, housing sales in Canada has risen dramatically, with increases in both the average selling price and the number of homes sold. When we talk about Canada's mortgage market, it is now becoming more and more balanced with easy applying to fixed and variable mortgage rates. Today, there is an increased inventory tempered by increased demand. To help audiences get their new home under the lowest mortgage rates , the Canadian government is trying to tighten the rules to qualify for a mortgage, which caused several buyers to jump into the mortgage market before the new regulations went into effect. The HOA fees, which went into effect with new rates in recent has helped property buyers to fix with mortgage payments and ...

There is no denying that today Canada’s mortgage rates are creeping up, even when the central bank of Canada has slashed borrowing costs to come up with the COVID-19 pandemic situation. That’s all due to the “enormous pressure” Canadian banks face amid disruptions caused by the outbreak-said by one of the top mortgage professionals of Canada. To show this perfect highlight of the situation, many mortgage professionals have found that the Bank of Canada has cut its mortgage interest three times this month, bringing the benchmark to 0.25%. The large Canadian banks matched those moves by lowering their prime rates, which influence borrowing rates for variable mortgages and credit lines, to 2.45% from 3.95% at the start of the month. It's the best way that today's Canadian banking authorities are coming up with the best of information on  current mortgage rates  to help the customer get a perfect sneak peek on mortgage core dealings.  For getting into the core of m...

Finding the best mortgage rate can prove to be very challenging for most people and even organizations. A mortgag e is an investment and requires a lot of considerations to be laid down before the actualization stage or the implementation of the project for any successful venture. If you are seeking a new home in Canada, then it is evident that people seek the help of the mortgage loans from the nationalized banks under the Canada lowest mortgage rates. Yes, you might be wondering why Canada's lowest mortgage rates? These are the best options for the property borrowers and homeowners who are looking to get the best of offers and bonuses on mortgage rate comparison and trending mortgage affordability.  Today there are many different nationalized banks running under the Canadian government rules and regulations. Each bank provides different mortgage rates on properties and other financial handlings, which give liberty to the property buyers to opt for the right bank...

Many new homebuyers think that for getting the lowest mortgage rates, all they need to do is shop around and find the one that suits their requirements the most. It is noteworthy that the mortgage rate is determined on the basis of many economic factors you can’t control. But at the same time, there are many other factors too that you can definitely control that can have a great impact on your mortgage rate. The factors are divided into two categories - the risk that the bank has for lending you money and the way you will modify the loan to your advantage. Here are the risk factors that you must know about. Credit Score This is the most important factor that affects your ability to get the lowest interest rate. The target varies from lender to lender but a credit score near or above 720 can generally help you in getting the lowest mortgage rate. Lower credit score may result in higher interest rates on your mortgage. If you don’t know your credit score, you should c...

Are you planning to get a new mortgage? If so, there are chances that you might have a few misconceptions. There are many misconceptions that might take your time and money because of a delay in your investment. Getting a mortgage is an important decision and you cannot compromise on that. There can be many reasons that might obstruct your way in getting the best mortgage for you. Here are four of the big myths busted about the mortgage that you better don’t believe.  Going straight to the bank saves you money You might be thinking about getting a mortgage loan directly from the bank to cut the costs of a mortgage broker. It is better to learn that it might not really do so. You may be charged more than necessary by your bank b ecause you have been a loyal customer and they know that you will accept the very first quite given to you. This is where a mortgage broker can save you. He will help you shop around to get the best rates for you. You have to pay your m...