Mortgage rates have been at historical lows; 5 year variable mortgage rates are among the most popular choices for many homeowners. The big banks easily dominate the market, however there are several smaller financial institutions that not only stand t heir ground with them, but even bring the game to a whole other level. RateHub

BMO has announced that it will be decreasing its popular five year low rate mortgage from 3.79% to 3.59%. This decrease will be able to provide homebuyers the incentive they need to kick-start their fall house hunting season. To be honest with everyone, the housing market has definitely decreased over the past few months. Sales

The global housing recovery has seemed to cool down again after we saw a strong first quarter performance, according to the latest Global Real Estate Trends report that was released today from Scotia Economics. Housing demand and prices have dropped alongside moderating global growth, heightened financial market volatility and slow job creation. Global real estate

This week we saw big banks make adjustments to their mortgage rates. The banks which I will be focusing on is the Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CIBC), Toronto Dominion Bank (TD) and National Bank of Canada (NBC). The rate adjustments made were decreasing certain mortgages; these decreases ranged from 0.10%

BMO Bank of Montreal has announced that it will be increasing the interest rate on its BMO Smart Saver Account from 1.00% to 1.10%, effective immediately. This increase now means that BMO now offers the best rate on a saving account of any major financial institution in Canada, as well as free deposits and transfers

Royal Bank of Canada (RBC) is lowering its rate for its five year mortgages, making this the second reduction for the month. RBC has decreased its five year mortgages by about one-tenth of a percentage point to 5.99%. At the beginning of the month, the five year mortgage rate started at 6.25%, but it was

For any Canadian on the search for a house right now, the chances of saving money are slowly slipping away if they do not move quickly. We have recently received notice that the Bank of Canada has no longer any reason to uphold its commitment to keep the overnight rate at the all time low