Robert Mclister

Advertisement 1 Share this Story : Jerome Powell's speech in Wyoming expected to send clarion call on rate cuts Jerome Powell's speech in Wyoming expected to send clarion call on rate cuts If U.S. bond yields are headed lower, it would benefit fixed mortgage rates on this side of the border, too Author of the article: Article content All rate market eyes will be on United State Federal Reserve chair Jerome Powell Friday. In his annual Jackson Hole, Wyoming speech, he's expected to give the all-clear signal to cut U.S. interest rates next month. Advertisement 2 Article content Jerome Powell's speech in Wyoming expected to send clarion call on rate cuts Back to video Financial markets could take that as a sign bond yields are headed lower, which would benefit fixed mortgage rates on this side of the border, too. Speaking of fixed rates, they're still dropping like the temperature in December. Among this week's notable moves, Pine Mortgage led advertised three-year uninsured fixed rates lower, to 4.84 per cent. Three-year terms have been wildly popular as borrowers eschew long-term commitments amid a rate-cut cycle. We also saw leading five-year insured rates drop to as low as 4.19 per cent this week. On the variable front, things are as unchanged as grandma's wallpaper. Nationally-leading offers from Nesto remain as low as 5.40 per cent (prime minus 1.30 per cent) for insured mortgages. Add at least 45 basis points if your mortgage is uninsured. Advertisement 3 Article content Circle Thursday September 5 for the next variable-rate drop, the day after the Bank of Canada cuts rates. Financial markets are pricing in a 94 per cent probability of that. Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news . You can follow him on X at @RobMcLister Mortgage rates The rates displayed below are updated by the end of each day and are sourced from the Canadian Mortgage Rate Survey produced by MortgageLogic.news. Postmedia and Imaginative. Online Inc., parent of MortgageLogic.news, are compensated by certain mortgage providers when you click on their links in the charts. Article content Share this article in your social network Share this Story : Jerome Powell's speech in Wyoming expected to send clarion call on rate cuts Comments Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Latest National Stories News Near Elliot Lake Featured Local Savings

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Robert McLister: Mortgage rates are falling like presidential election hopes after a debate disaster

Advertisement 1 Share this Story : With plumper profit margins, lenders are now more inclined to pass on the savings With plumper profit margins, lenders are now more inclined to pass on the savings Robert McLister: Mortgage rates are falling like presidential election hopes after a debate disaster Author of the article: Article content Mortgage rates are falling like presidential election hopes after a debate disaster. Indeed, fixed rates have dipped in nine of the 10 terms we monitor, with most shedding at least 10 basis points. Advertisement 2 Article content With plumper profit margins, lenders are now more inclined to pass on the savings Back to video Why the lender generosity? Simply put, their costs to fund mortgages have nosedived to multi-month lows. Lender profit margins are now pleasantly plump — enough so to share the savings with Joe and Jane Borrower. Among national lenders, Pine Mortgage is rocking the popular three-year term with a 4.74 per cent uninsured rate. And don't forget those regional providers. Butler Mortgage, for example, is sporting a 4.29 per cent insured three-year fixed in Alberta, British Columbia and Ontario. As for floating rates — which project to cost less than fixed rates, if you believe bond market projections — Nesto leads the nation with a 5.15 per cent insured variable. Technically, Nesto's variable is an “adjustable-rate mortgage,” meaning the payments drop as the prime rate goes down. For budget-hugging borrowers, that's a financial win. Advertisement 3 Article content All eyes now shift to Wednesday, when it's expected we'll see the first U.S. Federal Reserve rate easing since March 2020. Given that a cut has already been priced in for weeks, the real spectacle will be in seeing how it shakes up bond yields . Lower yields are the ticket to borrowing costs dipping below four per cent. Robert McLister is a mortgage strategist, interest rate analyst and editor of MortgageLogic.news . You can follow him on X at @RobMcLister Want to know more about the mortgage market ? Read Robert McLister's new weekly column in the Financial Post for the latest trends and details on financing opportunities you won't want to miss Bookmark our website and support our journalism: Don't miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here Mortgage rates The rates displayed below are updated by the end of each day and are sourced from the Canadian Mortgage Rate Survey produced by MortgageLogic.news. Postmedia and Imaginative. Online Inc., parent of MortgageLogic.news, are compensated by certain mortgage providers when you click on their links in the charts. Article content Share this article in your social network Share this Story : With plumper profit margins, lenders are now more inclined to pass on the savings Comments Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Latest National Stories News Near Elliot Lake Featured Local Savings

Robert McLister: Each site has its quirks. Knowing these quirks is key to scoring not just a great rate, but a phenomenal one

Rob McLister: Today's lowest national insured and uninsured mortgage rates, updated daily Canada's mortgage market is changing all the time.