Tagged: Bank of Montreal

Banks move to bump up mortgage rates

Banks move to bump up mortgage rates

Some Canadian banks are hiking their variable mortgage rates, seeking to pump up its profit margins as it becomes evident that interest rates will remain low for some time to come.

Housing Predictions For Next Year Are Varied

Housing Predictions For Next Year Are Varied

Economists were polishing their crystal balls this week and trying to peer into the future to see what next year’s real estate market will be like, with predictions varying widely.

Downtown Vancouver Condo

September home prices steady

The average price of a home sold in Canada in September was in line with that of a year earlier, even as 19.8 per cent fewer sales were registered.

Vancouver Real Estate

Banks hold most of the cards in mortgage game

To understand the housing market and where it’s headed, it’s a good idea to take a close look at the big banks.

As providers of more than 60% of home loans in Canada they are major players, determining everything from who gets to be a buyer to what people can afford to pay.

BMO

BMO cuts mortgage rate to spur home buying

The Bank of Montreal cut its special five-year fixed rate mortgage by 20 basis points Wednesday, bringing it down to 3.59% from 3.79%.

BMO said in a statement that the move was an effort to provide potential home buyers an incentive as the fall season rolls around.