Money Matters Toronto

Do you have a mortgage in Toronto? Are you in the market looking for a mortgage right now? Here are 5 questions you should know the answer to about your mortgage.

Yesterday, the shareholders of Toronto based Mortgage Co. Xceed voted to approve a plan to become a schedule 1 bank. This will allow Xceed to take deposits from the public to invest in mortgages. Look out for Xceed as they grow hopefully they will combine innovative products for the consumer with competitive rates.
Currently Xceed is [...]

ING Direct has introduced a new rate hold tool for Mortgage Brokers which allows ING qualified brokers to secure their clients excellent rates for 120 days.  The new rate hold for brokers tool only requires qualified mortgage brokers to submit a few details including the client’s contact information, and the approximate amount they want to [...]

Canadian 5 yr bond yields +.04bps to 2.41- Four weeks ago it was 2.74. The spread, based on 5 yr rate of 4.49%,  is at 2.08%.
Pressure on fixed 5 year: Down.
Financial Post – Markets. Lenders typically like to keep a spread of 1.70% to 1.80% between their fixed five year rates and the current 5 [...]

Canadian 5 yr bond yields +.03bps to 2.58- Four weeks ago it was 2.58. The spread, based on 5 yr rate of 4.49%,  is at 1.91%.
Pressure on Fixed 5 Year: Down.
Financial Post – Markets. Lenders typically like to keep a spread of 1.70% to 1.80% between their fixed five year rates and current bond yields. [...]

If you are tossing and turning every night trying to figure which way mortgage interest rates are moving join the club. My impression is that nobody knows exactly which way rates are moving and what the long term trend is. I certainly wouldn’t rely on the sound bytes that come out of the media on a [...]

Canadian Bond yield versus the 5yr fixed mortgage rate from February 13th, 2009, through to June 12th, 2009. It was published by the Canadian lender Merix Financial.
The bond yield, or rate of return on your bond, is depicted by the blue curve on the graph above while Merix’s fixed 5 year is the green curve. As a consumer, if [...]