"I do think that interest rates will rise, I don't think it will happen in the very near future but three, four, five months from now they will be higher. Definitely a year from now they will be higher. And in two years, they could be notably higher." That’s what noted CIBC economist, Benjamin Tal, told the Globe & Mail yesterday. The Globe’s piece questioned whether people have missed the boat on historically-low fixed mortgage rates. If one had to guess, there’s a good chance that boat has indeed

Bargain basement borrowing costs are prompting many Canadians to opt for fixed mortgages even though variable products continue to be a money-winning option for the foreseeable future, industry observers say. Canadian Imperial Bank of Commerce's chief economist says variable rate mortgages should produce the greater benefit for the next two to 2.5 years,

When buying a home or renewing a mortgage, many people think they are obligated to sign up for their financial institution's mortgage life insurance. Don't rush into buying your bank's insurance policy until you've looked at all the possibilities. You could end up saving money and getting added life insurance coverage at the same time by purchasing a term life insurance policy instead.

Prior to 1978 the conventional mortgage rate shown is a simple average of rates charged by a number of large institutional lenders, including chartered banks for residential mortgage loans as at midmonth. Between 1967 and 1970 the average rate shown includes rates for twenty-five year mortgages. Prior to 1967 the average rate shown is exclusively for twenty-five year mortgages.

Posted Canadian mortgage rates moved up in mid-June and July before settling lower in August. Borrowing costs on one-, three- and five-year fixed-rate mortgages fell during the second week of August by 30 basis point (bps) compared to a week earlier. This decline brought the average one- and five-year rates down to

MONTRÉAL, QUEBEC – The world is grappling with dramatic events that have seized up markets, sparked a massive flight to quality and caused some great names in the world of finance to succumb, Bank of Canada Governor Mark Carney said today. But, he argues, the turmoil may be cathartic in restructuring markets, prompting decisive policy responses and speeding the reordering of the financial system to make the world more stable. He concludes that Canada’s financial system is well positioned to weather this financial storm because it has been