Navigating Canadian Mortgage Rates Three Facts for Finding Lower Rates

Written by Family Video Coupon on December 5, 2013. Posted in Best canadian mortgage rates, Best mortgage rates, Low mortgage rates

Lowest mortgage rates

This week, the National Post was asking: are historically low mortgage rates in Canada a “Christmas Miracle?” Apparently, borrowing costs are down right now despite it being an off-season for the housing market.

This will probably come as a relief to many potential buyers. Earlier this year, most of Canada’s big banks hiked up their mortgage rates in response to the U.S. recovery. If you are looking for information on the best Canadian mortgage rates, then here are three tips you can keep in mind for the end of 2013, and the beginning of 2014.

1. The Current State of Canadian Homeowners

About 9.2 million Canadians own their home, according to Statistics Canada, and this accounts for about 69% of the population, comparable to home ownership rates in the U.S. Unlike the U