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MORTGAGE ALLIANCE BROKERS .CA works with all major Canadian banks, lending institutions, and private lenders. Utilizing vast resources and knowledge of products from over 50 lenders, allows our brokers to confidently provide you with the best mortgage solution catered to your specific needs. Whether you are buying a home for the first time, renewing your existing mortgage, purchasing a second home, consolidating debt, or refinancing, we take the stress out of negotiating with the lenders by finding you the Right Mortgage.

THE LATEST: BANK OF CANADA LEAVES RATES UNCHANGED. Here’s the Bank of Canada’s official statement for its interest rate decision on Wednesday, July 10, 2019: The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. Evidence has been accumulating that ongoing trade tensions are having a material effect on the global economic outlook. The Bank had already incorporated such negative effects in previous Monetary Policy Reports (MPR) and in this forecast has made further adjustments in light of weaker sentiment and activity in major economies. Trade conflicts between the United States and China, in particular, are curbing manufacturing activity and business investment and pushing down commodity prices. Following temporary weakness in late 2018 and early 2019, Canada’s economy is returning to growth around potential, as expected. Growth in the second quarter appears to be stronger than predicted due to some temporary factors, including the reversal of weather-related slowdowns in the first quarter and a surge in oil production. Consumption is being supported by a healthy labour market. At the national level, the housing market is stabilizing, although there are still significant adjustments underway in some regions. A material decline in longer-term mortgage rates is supporting housing activity. Exports rebounded in the second quarter and will grow moderately as foreign demand continues to expand. However, ongoing trade conflicts and competitiveness challenges are dampening the outlook for trade and investment. The Bank projects real GDP growth to average 1.3 percent in 2019 and about 2 percent in 2020 and 2021. Inflation remains around the 2 percent target, with some recent upward pressure from higher food and automobile prices. Core measures of inflation are also close to 2 percent. CPI inflation will likely dip this year because of the dynamics of gasoline prices and some other temporary factors. As slack in the economy is absorbed and these temporary effects wane, inflation is expected to return sustainably to 2 percent by mid-2020. Recent data show the Canadian economy is returning to potential growth. However, the outlook is clouded by persistent trade tensions. Taken together, the degree of accommodation being provided by the current policy interest rate remains appropriate. As Governing Council continues to monitor incoming data, it will pay particular attention to developments in the energy sector and the impact of trade conflicts on the prospects for Canadian growth and inflation.

Bottom Line: Fixed or Variable? Eventually interest rates will increase, that is a given considering mortgage rates are still close to their all time lows. Currently, the 5 Year Fixed Rate Mortgage stands at 2.69%, and compared to the Variable Rate Mortgage of Prime minus 1.10%, or 2.85%, the fixed we believe is the better option moving forward, given the marginal difference between the two.

Our team consists of highly trained mortgage professionals, licensed to provide you with the highest level of service, while adhering to strict industry regulations. To find out which mortgage is right for you, please contact us at any time.


We provide free consultation prior to closing, as well as throughout the term of your mortgage. Let us show you how you can save thousands of dollars by finding the lowest interest rates, and most flexible terms.

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