Lowest Rates Blog: Mortgage

With everyone from the Bank of Canada to the Minister of Finance to The New York Times fretting about a condo bubble in Canada, CIBC economist Benjamin Tal recently decided to crunch the numbers himself to see what’s really going on. His verdict: condo owners can relax because vacancy rates will increase only slightly in 2014, despite a record number of units coming to market.

What better place for Canadians to find the lowest rates on mortgages than at LowestRates.ca? Kind of makes sense, right?

New Brunswick is unique as Canada’s only constitutionally bilingual province, with English and French both culturally accepted.  The province is also the western border of the Bay of Fundy, which was a finalist to become one of the new natural wonders of the world in 2009 – a title that was ultimately passed onto other bodies of nature.

Physically the largest province in Canada and the second largest physical jurisdiction after Nunavut, Quebec is the predominant home of Canada’s French speaking population.  The demographics of the province will help maintain demand for housing in the first half of 2014.

Canada’s largest province by population, Ontario is the manufacturing heartland and onetime economic powerhouse of the country.  The provincial capital is the largest housing market in Canada, and second most expensive in the country, trailing only Vancouver in BC.

If Canadian homebuyers had a nickel for every report that came out about the country’s housing market, they probably wouldn’t need to bother applying for a mortgage. From banks and ratings agencies to magazines and think-tanks, predictions about Canadian house prices seem to be a national – and international – pastime.