There has been a lot of discussion recently about how variable-rate mortgage holders could face their “trigger point.” We’re going to explore what that means, and the implications for borrowers. Let’s first cover the basics. Most variable-rate mortgages have static monthly payments, which protect the borrower’s cash flow from fluctuations in the prime rate. Four of the Big Six banks offer fixed payments for variable-rate mortgages, and so do several credit... [read more]

In the fall of 2018, many economists predicted that the Bank of Canada would increase interest rates three or four times in 2019, but that's no longer the case. The global economy appears to be slowing and rarely do central banks increase rates when an economy is struggling. Any slowdown in rate hikes would be welcome news for those holding a mortgage or loan linked to the prime lending rate. If you are considering a fixed rate mortgage, there is good news for you as... [read more]