Borrowers are often told that different things drive fixed and variable mortgage rates. The Bank of Canada guides variable rates, mortgagors are told, while the bond market steers fixed rates. That's largely true, but fixed and variable rates are actually more siblings than distant cousins.

💡Mortgage Bytes follow below... Canada's FINTRAC rules have hit the mortgage broker industry like a piano falling from the sky. Almost three weeks after FINTRAC started in the mortgage industry, we're getting emails from brokers at top brokerages still confused about their obligations. This includes brokerages

Some banks are hawking popular 3-year terms for 4.14% to 4.29%, or even less for fat loan amounts. In some instances, for strong borrowers with $600,000+ loan amounts, leading status brokers are getting 3.99% on discretion. We've seen multiple commitments at that rate in

Trudeau has finally done the right thing and moderated immigration levels. That means more first-time homebuyers might actually get to own something bigger than a U-Haul storage unit. It also means real estate doomsdayers are doing victory laps as we speak. For those who thought Canadian real estate was a