Mortgage rates chopped by 2 Canadian banks

Two Canadian banks did their bit to unclog the country's constricted housing market Wednesday by cutting mortgage rates.

The Royal Bank of Canada and the Bank of Montreal both chopped borrowing costs for people seeking to buy a home.
11-28-2008 13:20 More...

Ottawa to buy $50B in mortgages, hopes to spur loans

The federal government is purchasing another $50 billion in residential mortgages to further stabilize the lending industry and encourage lower interest rates, Finance Minister Jim Flaherty announced Wednesday.
11-13-2008 11:12 More...

Unusual Times

Normal isn't what it used to be in the mortgage market.

Normally you'd expect to see a nice discount off prime rate on a new variable-rate mortgage.

Normally you'd see 5-year fixed rates closer to 4.00% given today's bond yields--instead of 5.50%.
11-03-2008 13:12 More...