In the last three months of 2023, the 4-year swap rate—a leading indicator of fixed mortgage pricing—plunged 125 bps. The descent trimmed down fixed rates by about 60 bps.
For the average Joe/Josephine getting a new $300,000 mortgage, that means a cool $8,700 that they
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In 2024, the pulse of the economy might as well be taken by checking the mortgage market's blood pressure. Mortgages are that critical to Canada's outlook.
Millions of borrowers want to know what lies ahead, as do mortgage pros. But we didn't want to
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Welcome to 2024, a year that promises to be easier on borrowers' wallets.
Sometimes, though, promises from the financial world are like that buddy who swears they'll help you move and never shows up.
That's why, even though the odds now favour floating-rate mortgages, it
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If you're a mortgagor, here's to a year of lower rates and greater savings, so you can invest in your future and not in interest!
If you're a mortgage professional, here's to a thriving mortgage market, thrilled clients and seamless transactions.
And
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⏩The short of it: In 2024, the BoC should loosen its grip and give rates a snip. The market's magic 8-ball now shows 5-6 target rate cuts in 2024. Until that seems imminent, the BoC will keep playing hardball—trying to deter premature rate celebrations and home-buying exuberance.
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