CATEGORIES

CURRENT RATES

2 YEAR 3.32%

3 YEAR 2.96%*

4 YEAR 3.29%

5 YEAR 2.99%*

5 YEAR Variable 2.90%*

Updated May 22nd 2019
*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

Oriana News

Canadian housing market will be back in growth mode ‘later this year’'

May 8th, 2019 ~ Livabl.com The governor of the Bank of Canada suggests it won’t be long before the country’s housing market has bounced back and starts growing once again.“As markets stabilize in Toronto and Vancouver, the Canadian housing sector should return to growth overall later this year,” Stephen Poloz, governor of the Bank of Canada, said in a speech to the Canadian Credit Union Association and Winnipeg Chamber of Commerce on Monday....[Read More]

Self-employed increasingly turning to private lenders for mortgages

CTV News ~ April 29th, 2019 TORONTO -- The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage.While many prospective homeowners are driven to alternate lenders because of government-mandated stress tests and poor credit scores, the self-employed often have additional burdens to overcome in proving their income."There's more and more people seeking private loans than ever before and that's a ...[Read More]

Buying a home? CMHC could soon kick in 10% of the cost — for a price

CBC~ March 19th, 2019The government is earmarking $1.25B over 3 years for something it's calling a 'shared equity mortgage'The 2019 federal budget includes a tantalizing pitch for prospective first-time homebuyers — one that could see Canada's housing agency contribute up to 10 per cent of the purchase price of a home and bring down the mortgage load for borrowers.The budget offers the program, known as the First Time Home Buyer Incentive, as a way to...[Read More]

Drop in fixed-term mortgage rates is imminent, experts say

Globe and Mail ~ January 7th, 2019Falling bond yields should push fixed-rate mortgage costs lower in the near-term, possibly as early as this week, mortgage industry experts predict.Yields on five-year Government of Canada bonds – which help determine the price of fixed-rate mortgages – have fallen sharply since November, dropping from a recent high of 2.46 per cent on Nov. 8 to 1.86 per cent as of Monday, a decline of more than half a percentage point. Yie...[Read More]