Over the last seven days, we haven't heard a peep from the national frontrunners—rate stability is having a moment.
Over the last seven days, we haven't heard a peep from the national frontrunners—rate stability is having a moment.
💡See also: • No CE? No Licence. No Exceptions. No Kidding. • 5yr Yield Unchanged After Defence Spending Boost The government's proposal to scrap the 5% GST ($50K) on a $1 million home "could translate to mortgage savings of about $240 per month and a slightly smaller minimum down
The government's proposal to scrap the 5% GST ($50K) on a $1 million home "could translate to mortgage savings of about $240 per month and a slightly smaller minimum down payment for homebuyers," reported Desjardins Economics on Monday.
But the headline savings are only half the story. Here's what else people should know about this change:
💡See also: Mortgage Tidbits below. Canada's 5-year yield is lurking just below the conspicuous 3% level, above which it hasn't ventured in 4.5 months. Here's what's moved 5-year #GoCs# on this data-starved Monday, and which way the yield winds were blowing:
Canada's 5-year yield is lurking just below the conspicuous 3% level, above which it hasn't ventured in 4.5 months.
Here's what's moved 5-year #GoCs# on this data-starved Monday, and which way the yield winds were blowing:
Servus Credit Union is rolling out its Halal Mortgage this fall through a new wholly owned subsidiary, Servus Halal. The product is a clever workaround to paying interest, which is banned by Sharia law. The structure caps loan-to-value at 80% with fixed monthly payments stretched over 25 years (because even
Servus Credit Union is rolling out its Halal Mortgage this fall through a new wholly owned subsidiary, Servus Halal. The product is a clever workaround to paying interest, which is banned by Sharia law.
The structure caps loan-to-value at 80% with fixed monthly payments stretched over 25 years (because even divine finance appreciates predictable cash flows).
Servus's new offering is what Islamic finance calls a "Murabaha agreement," which means:
💡Don’t miss the Mortgage Tidbits at the end—buried treasure awaits. Friday's job reports sent bonds tumbling faster than a loonie down a Bay Street storm drain. MLN's got the lowdown on that, plus a fresh batch of mortgage nuggets to pad your off-hours reading
Friday's job reports sent bonds tumbling faster than a loonie down a Bay Street storm drain. MLN's got the lowdown on that, plus a fresh batch of mortgage nuggets to pad your off-hours reading list—because nothing says “weekend unwind” like rate quirks and industry drama.
North America's labour market took a tariff punch to the gut, but it's fighting its way out of the corner. Overall, May employment was a small upward surprise, north and south of the 49th. Yields are rallying as a result. Here are the numbers that made
North America's labour market took a tariff punch to the gut, but it's fighting its way out of the corner. Overall, May employment was a small upward surprise, north and south of the 49th. Yields are rallying as a result.
Here are the numbers that made economists’ hearts flutter:
If you're a national lender or broker and you want to know how your average loan sizes stack up, these are the latest benchmarks from Equifax.
If you're a national lender or broker and you want to know how your average loan sizes stack up, these are the latest benchmarks from Equifax.
