Mortgage Bytes

  • Mortgage rates declined this week for the first time in three months, but it may be short-lived.  CTV Story
  • Laurentian Bank launched two new mortgages: a 7% cash back mortgage and an adjustable rate product tied to their 6-month mortgage rate.
  • The U.S. Federal Reserve may impose new restrictions on “liar loans” (a.k.a.  “no doc” mortgages) that allow people to get mortgages without proving income.  Canadian Business Story
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Majority of Canadian Buyers Borrowing Their Maximum Approved Mortgage
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