Is Canada’s borrowing landscape set for dramatic change? Leah Zlatkin (pictured top), a licensed broker and LowestRates.ca expert, told Canadian Mortgage Professional that those rising costs will likely be compounded by inflation, which has recently ballooned to levels not seen in over 30 years in Canada. “For people who are looking to do a fixed-rate […]

Big 5 banks swiftly pass on Bank of Canada hike to borrowers Royal Bank of Canada didn’t waste much time following the Bank of Canada’s lead, announcing early Wednesday afternoon it will raise its prime rate half a percentage point to 3.2 per cent, effective Thursday. Soon after RBC’s announcement, TD Canada Trust, Bank of Montreal, […]

https://www.thestar.com/business/2022/04/12/canadians-with-mortgages-brace-for-big-bank-of-canada-rate-hike.html Based on that 2.70 per cent prime rate and a discount of one per cent – lenders typically offer discounts ranging from 0.60 per cent to one per cent – a homeowner with a variable rate mortgage would have seen their monthly mortgage payment go from 1.45 per cent to 1.70 per cent, explains […]

‘This will remove buyers from the market’: Higher interest rates on Wednesday will help tame frothy housing prices, experts say Leah Zlatkin, a mortgage broker with lowestrates.ca, said the recent rate hikes represent a “turning point” for those prospective buyers. Mortgage rates are now high enough that many potential buyers will have to qualify at […]

More Borrowers Will Face Jumbo Stress Test Following Higher Rate Hikes  “Many homebuyers are not aware of this nuance, and it would affect their affordability even if home prices were to slow down or down over the next year,” says Leah Zlatkin, mortgage broker and expert at LowestRates.ca.  She adds that this will effectively reduce […]

https://www.movesmartly.com/articles/this-risky-trend-in-pre-construction-purchases-is-raising-red-flags?hs_amp=true Shawn Stillman is a mortgage broker at mortgageoutlet.ca, and is familiar with this issue. “I know,” he wrote me, “that there are ‘brokers’ who will charge $500, ask for ID and a copy of the first page of (the) purchase agreement and get you photoshopped (mortgage) approval.”  He adds: “I was told by the […]

https://www.mpamag.com/ca/best-in-mortgage/top-75-brokers-2022/400482   In spite of predictions to the contrary, COVID-19 did not bring the mortgage sector to a screeching halt. Throughout 2021, despite new virus variants and a roller coaster of lockdowns, the volume of mortgage deals kept brokers working overtime to keep up with the demand. This year is shaping up to be a […]

https://www.theglobeandmail.com/business/article-fixed-or-variable-how-to-decide-as-interest-rates-rise Fixed or variable? It’s a perennial question for mortgage seekers that’s expected to hit a fever pitch as the Bank of Canada begins what’s expected to be a steady stream of interest-rate increases in the coming months. On Wednesday, the central bank increased its key interest rate to 0.50 per cent from a record […]

https://www.mpamag.com/ca/tv/variable-rates-in-2022-whats-in-store/327013 With markets pricing in multiple Bank of Canada rate increases in 2022, could the popularity of variable rates take a hit? Leah Zlatkin, mortgage broker at Mortgage Outlet and LowestRates.ca expert, talks us through what could be in the cards this year.

https://financialpost.com/real-estate/mortgages/what-rate-hikes-mean-for-the-housing-market Leah Zlatkin, mortgage broker with Mortgage Outlet, talks with the Financial Post’s Larysa Harapyn about how rate hikes will impact your mortgage payment and the housing market as a whole.