The House: August 6, 2024

Your bi-weekly dose of Canadian mortgage news.

August 06, 2024

Welcome to The House, your bi-weekly dose of Canadian Mortgage news. We deliver the most up-to-date news directly to your inbox every second Monday containing  industry news, updates, and more for professionals in the Mortgage industry.

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What’s Happening:

  • The bond yield has fallen to a two-year low with fixed rates dropping as a result.

  • 30-year amortizations are a now available to first-time home buyers

  • Builders have been offering half-priced mortgages, but still not getting buyers due to buyer affordability issues.

  • Fixed rates are dropping, largely due to bond pricing south of the border with high expectations of rate cuts later this year. Read more here to understand the factors impacting fixed rates.

Mortgage Rates  - Banks

  • 5-year fixed  - 5.04%

  • 4-year fixed  - 5.09%

  • 3-year fixed  - 5.19%

  • 5-year fixed (High-Ratio) - 4.74%

  • 4-year fixed (High-Ratio) - 5.09%

  • 3-year fixed (High-Ratio) - 5.19%

Mortgage Rates - Digital & Monoline Lenders

  • 5-year fixed - 4.74%

  • 4-year fixed - 5.04%

  • 3-year fixed - 4.94%

  • 5-year fixed (High-Ratio) - 4.29%

  • 4-year fixed (High-Ratio) - 4.69%

  • 3-year fixed (High-Ratio)  - 4.74%

Compare current rates here.

Market Updates & Trends:

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