Robert McLister

Canada's 5yr yield just made a 6-week high as Trump pauses high tariffs for 90 days. Most countries fall to 10%, but he hiked tariffs on China to 125%. As always, folks need to lock down rate holds once they decide to get a mortgage. Times like these are a case in point on why. https://t.co/L6bnI0kVnd

Trump said he wanted lower bond yields & he got them. Absolute market carnage with the US 5yr yield collapsing 21+ basis points. Yet, Canada's 5yr yield is down only 4 bps. If Canadian yields outperform & inflation/inflation expectations ramp higher, borrowers have a problem https://t.co/O3apIdFq3R

The Bank of Canada just gave rates another haircut, trimming the overnight target 0.25%-point to 2.75%. Full statement: https://t.co/0JhribckWJ Benchmark prime should dip to 4.95% tomorrow, saving typical rate floaters $240+ a year per $100,000 of mortgage or HELOC. https://t.co/pFlVI1AwOT

There are still countless mortgage renewal offers where the lender tries to pull a fast one on an unsuspecting or less qualified borrower — but far fewer than there used to be.

Financial Post @financialpost

Bank mortgage renewal rates used to be 'take it or leave it.' Not anymore https://t.co/OnMu2Pa1dP https://t.co/Su6NoLY2Hz

Not much going on today in the rate market. Just your run-of-the-mill 20 bps crash in 5yr yields. But low-rate enthusiasts best shelve their 3% mortgage dreams for now. The 5yr yield spectacularly rallied all the way back—closing up 1 bp after Trump postponed tariffs 30 days. https://t.co/57VDgCaaQB

To no one's amazement, the BoC just trimmed its key rate by 25 bps. Tomorrow, Canada's benchmark prime should dip to 5.20%, the lowest in almost two-and-a-half years. What could surprise some are variable-rate discounts. They've been shrinking, especially for insured mortgages.

Relationship mortgage pricing has been a thing for decades. But never before have some banks sacrificed margins to this degree—hoping they'll make it up at renewal and by selling you other stuff. Lenders who only sell mortgages are in a tough spot. More: https://t.co/psk2BmgwN6

The @bankofcanada just cut half a point, as predicted by 90% of econo-psychics. Prime should drop to 5.45% effective tomorrow. Full BoC statement: https://t.co/Rhr5IXL1oE This should take the lowest nationally advertised variables to: • 4.25% (insured) • 4.75% (uninsured)

The Trump/Republican sweep may ultimately limit the downside for fixed mortgage rates if Canada can negotiate out of tariffs. (Trump does deal on tariffs, and we're America's 2nd biggest trading partner.) One election takeaway: Fixed rates can go up while variable rates go down.

If you want a good primer on the mortgage market, this is it. Unfortunately, Rogers provided little of value with respect to mortgage policy—except to hint that by loosening mortgage rules to address unaffordability, the Finance Dept. is risking long-term financial stability.

Bank of Canada @bankofcanada

🔴 Tune in LIVE to catch Senior Deputy Governor Carolyn Rogers’ speech before the @economicclubca. https://t.co/GBDwTKMRsa #cdnecon #economy

Mortgage market risks and the housing market's impact on inflation could also be on the agenda.

Rob McLister @RobMcLister

We'll likely get an update on mortgage stress test changes and the new loan-to-income (LTI) limits, or perhaps a potential surprise.

We'll likely get an update on mortgage stress test changes and the new loan-to-income (LTI) limits, or perhaps a potential surprise.

Paul Vieira @paulvieira

Bank of Canada's No. 2 official, Carolyn Rogers, to deliver a speech on Nov. 6. The subject: "Canada's mortgage market." cc @JohnPasalis @daniel_foch @RobMcLister https://t.co/hE8lXY640h

Group mortgage plans sound good on paper, but they often don't lower borrowing costs more than sharp borrowers can negotiate for themselves. Much depends on the available lender(s) in the plan & how much the mortgage seller—or the company—kick in. Gotta shop around, regardless.

Bruce Sellery @brucesellery

🎧Group Mortgages: A Company Perk, on the Moolala #personalfinance podcast: https://t.co/iKJjkMSFKJ Employee benefits help recruit & retain staff. Some companies offer group mortgages says @RobMcLister, mortgage analyst & editor of https://t.co/pzz3N8f9hD. https://t.co/y28rqK9zRY

The BoC just chopped its key lending rate as predicted. Canada's benchmark prime rate should dip 50 bps to 5.95%, effective tomorrow. "...We expect to reduce the policy rate further," the Bank hints. https://t.co/pYznwZMZM7 Market-implied odds of another 50 bps cut on Dec. 11