Mortgage News Update: Rate Hike Concerns

The Latest in Mortgage News: Borrowers Growing Worried Over Rate Hikes

Canadian Mortgage Trends Canadian Mortgage Tr... | 2 years ago

Rising interest rates are starting to weigh down Canadians' confidence in their finances, according to the latest results of the MNP Consumer Debt Index.

The latest in mortgage news: BoC rate hike expectations grow - Mortgage Rates & Mortgage Broker News...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

The Big 6 banks have raised their expectations for Bank of Canada rate hikes, with most expecting another 125 to 150 basis points in tightening by the end of the year.

Worried about mortgage interest rates? Here's what the Fed's rate hikes mean

latimes latimes | 1 year ago

If you’re in the market for a new mortgage or if you have one with an adjustable interest rate, you may worry that the Federal Reserve’s efforts to choke off inflation will raise your housing costs. Economists say there is a link between the Fed’s moves and mortgage interest rates, but it’s misleading to focus on the Fed’s hikes in short-term interest rates. Indeed, the average interest rate for a 30-year fixed mortgage was lower Wednesday than it was a week ago, even though the Fed wa...

commercialsearch commercialsearch | 1 year ago

Economists and industry executives react to the Federal Reserve’s decision to increase the benchmark interest rate by 75 basis points. The post How the Latest Rate Hikes Impact CRE appeared first on Commercial Property Executive.

How will the latest rate hike impact variable-rate mortgage holders? - Mortgage Rates & Mortgage Bro...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

Variable-rate mortgages in Canada are now averaging about 4.20%, a full percentage point higher than they were a week ago. That’s thanks to the Bank of Canada’s latest 100-bps rate hike, which was followed by an equal increase in the big banks’ prime rate, upon which variable mortgages and lines of credit are priced. The prime rate at most lenders is now 4.70%, a level not seen since 2008, and up from 2.45% at the start of the year. “I think the big takeaway here is what it’s going...

Scotiabank not worried about its floating-rate portfolio - Mortgage Rates & Mortgage Broker News in ...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

With variable rates rising by the month—and more hikes anticipated—observers are keeping a careful watch on adjustable-rate mortgages. Borrowers with an Adjustable-Rate Mortgage (ARM) see their monthly payments increase every time interest rates rise (to the tune of about $25 per $100,000 for every 50 bps of rate increase, based on a 25-year amortization). The Bank of Canada has already delivered 125 basis points of tightening this year, with another 100 to 150 bps expected. But Scotiaban...

BoC's Macklem: More interest rate hikes are "warranted" - Mortgage Rates & Mortgage Broker News in C...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

Having already raised interest rates by 300 basis points this year, the Bank of Canada’s Tiff Macklem confirmed on Thursday that additional rate hikes (plural form) are “warranted.” In a prepared speech delivered at the Halifax Chamber of Commerce, Macklem said the Bank has yet to see clear evidence that underlying—or “core”—inflation is coming down. “When combined with still-elevated near-term inflation expectations, the clear implication is that further interest rate increases ...

Over half of mortgage borrowers concerned about renewals - Mortgage Rates & Mortgage Broker News in ...

Canadian Mortgage Trends Canadian Mortgage Tr... | 1 year ago

A new survey has found that 53% of Canadian mortgage borrowers are concerned about the prospect of higher monthly payments at renewal time. However, most respondents (52%) also said they have a plan in place to help deal with any potential payment shock, the RATESDOTCA and BNN Bloomberg survey found. For those who said they have a plan to deal with higher payments, these are the top actions: For more than half of those polled (51%), switching lenders isn’t part of their plan when their mortg...

The Latest in Mortgage News: Housing Affordability Reaches Worst Level in 31 Years

Canadian Mortgage Trends Canadian Mortgage Tr... | 2 years ago

Housing affordability in Canada has deteriorated to its worst level in 31 years, according to RBC Economics.

housingbubble.blog housingbubble.blog | 1 year ago

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The Latest in Mortgage News: Borrowers Growing Worried Over Rate Hikes

The Latest in Mortgage News: Borrowers Growing Worried Over Rate Hikes