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27 Feb

Canada raises red flag at credit rating giant. Mortgage Market Update Feb. 27, 2018

General

Posted by: Anne Martin

MARKET UPDATE

Canada raises red flag at credit rating giant

S&P Global Ratings warns it expects to see more evidence of fraud in Canadian residential mortgages amid high home prices and high household debt.

Evidence of mortgage fraud amid surging home prices and household debt has prompted S&P Global Ratings to lower a key risk metric for Canadian banks.

Read more


Best fixed rates are as low as *3.09 – 3.59 % for a 5 year fixed,
variable rate mortgages from as low as p-.95%
Prime Rate is 3.45%

*High Ratio/Quick Close Specials

This is a critical time to sit down and review your household financing needs. Please do not hesitate to contact me should you have any questions.

If you are in the market for a home or are considering refinancing, contact me today to see how the recent regulatory changes by the Office of Superintendent of Financial Institutions will affect your purchase.

**rates subject to change with market conditions –                                 *OAC  **conditions apply E. & O. E.

Terms Bank Rates Our Rates
6 Month 3.14% 3.10%
1 YEAR 3.04% 2.99%
2 YEARS 3.24% 3.04%
3 YEARS 3.44% 3.24%
4 YEARS 3.89% 3.34%
5 YEARS 5.14% *3.09 – 3.59 %
7 YEARS 5.30% 3.69%
10 YEARS 6.10% 3.84%
Rates are subject to change without notice. *OAC E&OE
 **Please note that rates shown above are subject to change without notice. The rates shown are  posted rates and the actual rate you receive may be different, depending upon your personal financial situation. “Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.”

Check with your Dominion Lending Centres Mortgage Professional for full details and to determine what rate will be available for you.