https://padlet.com/andrew_stevens123/mortgagerates Made with a lightning strike of genius en-us 2016-11-28 19:30:16 UTC 2025-12-09 17:22:46 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Simplehouse.png andrew_stevens123 https://padlet.com/andrew_stevens123/mortgagerates/wish/140314021 By Dominique Welling and Andrew Stevens ]]> 2016-11-28 19:34:35 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140314021 andrew_stevens123 https://padlet.com/andrew_stevens123/mortgagerates/wish/140316178 Finding the best mortgage rate can be quite the hassle. While most banks offer you close estimates through their online websites, they aren’t always as accurate as what you get in reality. This can be largely based on the area you’re in and the state of its economy. This can make finding the best mortgage rate a time consuming hassle. This is why Websites like Ratehub have become so successful. Ratehub is a website designed to help you find the best mortgage rates based on your planned duration and area of residence. ]]> 2016-11-28 19:39:43 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140316178 andrew_stevens123 https://padlet.com/andrew_stevens123/mortgagerates/wish/140317147 This video is ideally here to help you understand mortgage rates, how they are implemented and how they affect the overall cost of your home. As explained in the video mortgage rates are essentially an interest rate charged on the amount of your mortgage (loan). The higher the mortgage rate the more the overall cost of your home will be and the higher your monthly payments will be. This is why it is so important to pay attention when purchasing a home to the rates and how they will have an affect on your payments and they cost of your home. ]]> 2016-11-28 19:41:54 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140317147 dominique_welling https://padlet.com/andrew_stevens123/mortgagerates/wish/140319023 This graph show the correlation between home prices and long term mortgage rates. As mortgage rates decrease home prices have been increasing due to the fact that people can afford to buy more expensive homes.

]]> 2016-11-28 19:46:46 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140319023 dominique_welling https://padlet.com/andrew_stevens123/mortgagerates/wish/140354819 This graph is not specific to mortgages however we feel it is a good diagram to show how interest rates and debt correlate. As shown in the graph when interest rates are higher debt is lower because people don't have the money to take out big loans because they would be paying so much in interest. On the flip side when interest rates are lower debt is higher because people can take out bigger loans and pay less interest. ]]> 2016-11-28 22:08:35 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140354819 dominique_welling https://padlet.com/andrew_stevens123/mortgagerates/wish/140359822 This graph shows the history of 30 year, 15 year and 1 year mortgage rates. As you can see they are all declining with time, some more than others but all the same trend. ]]> 2016-11-28 22:41:18 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140359822 dominique_welling https://padlet.com/andrew_stevens123/mortgagerates/wish/140362098 Welcome to our page on mortgage rates and how they are effected by the economy. Throughout the page you will find helpful videos and website to help you understand mortgage rates and how they work. They range from what the numbers are to explaining how they are implemented. They are also diagrams helping to show things like the history and how interest rates, debt and housing prices are all related. We hope after going through our page you will have a better understanding of mortgage rates and the housing market in Canada. ]]> 2016-11-28 22:57:46 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140362098 andrew_stevens123 https://padlet.com/andrew_stevens123/mortgagerates/wish/140367341 This video describes the key differences between a fixed and a variable mortgage rate. It highlights that fixed mortgage rates are predetermined and let you know what your exact amount owed will be on each payment. On the other hand a variable interest rate fluctuates with the current economy. That means that your amount owed each payment may become less if the current rates are dropping. While this may seem like a good deal the reality is that mortgage rates have been steadily increasing since the early 2000’s. That being said rates do fluctuate during these times meaning you may be able to lock in your variable mortgage rate lower than  your original rate.   ]]> 2016-11-28 23:48:50 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140367341 dominique_welling https://padlet.com/andrew_stevens123/mortgagerates/wish/140368648 Mortgage rates are a very complicated topic but this video is just a simplified way of looking at the overall scheme of things. When you are borrowing money from the bank you pay interest to the bank and the bank pays interest to the government. The amount the government is charging the bank will affect the mortgage rate they are offering. The bank wants to make as much money as possible so if the government is charging a higher rate then the bank has to charge a higher rate as well. If the government lowers their rate it gives the bank the flexibility to lower their rates if they would like to. Keeping in mind that banks want to make as much as possible so this could be having lower rates to attract more consumers.  
 ]]> 2016-11-29 00:06:22 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140368648 andrew_stevens123 https://padlet.com/andrew_stevens123/mortgagerates/wish/140370300 While things may be looking up for the Canadian economy in the coming years it may not all be bright for our economic future. Analysts from the OECD now believe that the growing property values in the Toronto and Vancouver are leading to an overvalued housing market. The result of these glorified housing prices may lead to the federal government stepping in to adjust housing prices. In return this will lead to an increase in mortgage rates and increased unemployment.

]]> 2016-11-29 00:25:57 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140370300 andrew_stevens123 https://padlet.com/andrew_stevens123/mortgagerates/wish/140371878 As the Canadian government tries to help first time buyers it seems as if their efforts are shortly overturned by major banks increasing their mortgage rates. It seems as if first time buyers are unable to catch a break in the cut throat realty market within Toronto. Currently in Toronto first time buyers don’t have to pay the land transfer tax on anything $400,000 or less. However with the average home price at just above $770,000 this helping hand from the government is practically useless for anyone looking for their “white picket fence home”.

]]> 2016-11-29 00:44:03 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140371878 andrew_stevens123 https://padlet.com/andrew_stevens123/mortgagerates/wish/140378678 2016-11-29 01:48:00 UTC https://padlet.com/andrew_stevens123/mortgagerates/wish/140378678