Oriana Financial Group of Canada Ltd.

CURRENT RATES

2 YEAR 3.62%

3 YEAR 3.14%*

4 YEAR 3.64%

5 YEAR 3.34%*

5 YEAR Variable 2.95%*

Updated March 21st, 2019
*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

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Liberals' mortgage help for first-time buyers lands Sept. 2, weeks before vote

CBC.com - June 17th, 2019 OTTAWA - The federal Liberals say a new program to help new buyers pay for their first home will kick in on Labour Day.The program that will help cover some mortgage costs will be available starting Sept. 2, only weeks before the October federal election.The government's plan will see it pick up five per cent of a mortgage on existing homes for households that earn under $120,000 a year, on a mortgage of no more than $480,000.It plans to cover up to 10 per cent to spur ... Read More

Canadian housing market will be back in growth mode ‘later this year’'

May 8th, 2019 ~ Livabl.com The governor of the Bank of Canada suggests it won’t be long before the country’s housing market has bounced back and starts growing once again.“As markets stabilize in Toronto and Vancouver, the Canadian housing sector should return to growth overall later this year,” Stephen Poloz, governor of the Bank of Canada, said in a speech to the Canadian Credit Union Association and Winnipeg Chamber of Commerce on Monday.Poloz notes that, on a ... Read More

Self-employed increasingly turning to private lenders for mortgages

CTV News ~ April 29th, 2019 TORONTO -- The self-employed are among the growing number of Canadians turning to private lenders in order to obtain a mortgage.While many prospective homeowners are driven to alternate lenders because of government-mandated stress tests and poor credit scores, the self-employed often have additional burdens to overcome in proving their income."There's more and more people seeking private loans than ever before and that's a direct result of government making it ... Read More

Buying a home? CMHC could soon kick in 10% of the cost — for a price

CBC~ March 19th, 2019The government is earmarking $1.25B over 3 years for something it's calling a 'shared equity mortgage'The 2019 federal budget includes a tantalizing pitch for prospective first-time homebuyers — one that could see Canada's housing agency contribute up to 10 per cent of the purchase price of a home and bring down the mortgage load for borrowers.The budget offers the program, known as the First Time Home Buyer Incentive, as a way to help with housing affordability. The ... Read More

Drop in fixed-term mortgage rates is imminent, experts say

Globe and Mail ~ January 7th, 2019Falling bond yields should push fixed-rate mortgage costs lower in the near-term, possibly as early as this week, mortgage industry experts predict.Yields on five-year Government of Canada bonds – which help determine the price of fixed-rate mortgages – have fallen sharply since November, dropping from a recent high of 2.46 per cent on Nov. 8 to 1.86 per cent as of Monday, a decline of more than half a percentage point. Yields particularly started ... Read More

The bond market is now sending a clear signal: Go with a variable-rate mortgage

Globe and Mail ~ December 5th, 2018Many people started out Wednesday morning expecting three or more rate hikes in the next 18 months.Now, they’re wondering if we’ll see more than one.That’s how much rate expectations have changed since the Bank of Canada’s latest rate statement.If you’re shopping for a mortgage and believe what the bond market is telling us, it implies your odds of success with a fixed rate may have just changed.Click here to read the full article. Read More

Finally, mortgage renewals have entered a new era

Globe and Mail ~ November 6th, 2018As Canadian mortgages come up for renewal, many households are starting to experience what TD Economics has dubbed a “completely new phenomenon” – higher interest rates.In a recent report, TD looked at the change to the conventional five-year mortgage rate over its term length. Essentially, this shows where rates for a popular product – the five-year, fixed-rate mortgage – stand upon renewal. For much of the past quarter-century, ... Read More

Why your neighbour's kid is getting a better mortgage rate than you

Financial Post ~ November 13th, 2018Ted Rechtshaffen: The government has effectively decided to support home buyers who do not necessarily have the funds to buy a houseHow did a 27-yeaer-old kid How did that kid get a 3.39% mortgage while I'm paying an extra 0.45% a year?I used to think paying down debt and having a good credit rating would reward me.Then I went to renegotiate my mortgage and was told that my five-year fixed mortgage rate would be 3.84 per cent. I thought that was pretty good ... Read More

When it comes to mortgage renewals, Canadians are leaving money on the table

  Globe and Mail ~ August 20th, 2018Mortgage renewals can be a nerve-wracking experience, especially for first-time homeowners — and this year, there will be a lot of Canadians getting ready to go through that process.Almost half of existing mortgages are up for renewal this year, according to a CIBC report from earlier this year. But despite homeowners having the opportunity to look for a better deal than their existing rate, or for a more appropriate product to fit their current ... Read More

How to determine when you’ll pay more for a mortgage

Globe and Mail ~ August 3rd, 2018Nobody wants to pay more than necessary when getting a mortgage. But more than four out of five applicants have little chance at getting Canada’s true lowest rate.Rock-bottom rates are reserved only for mortgages that present the least risk and cost for the lender. And relatively few mortgages fall into this bucket.Mortgages have always been priced based on the risk you present to the lender. But after 10 years of government rule tightening, that’s ... Read More

Bank of Canada raises rates as Poloz’s tale of recovery from Great Recession finally starts coming true

Financial Post ~ July 11th, 2018Kevin Carmichael: Beyond trade, the bigger story in decision is that most companies are responding to their order books rather than headlines in business pagesThe Bank of Canada raised interest rates July 11 because Stephen Poloz’s tale about how the economy would recover from the Great Recession finally is coming true.Most everyone assumed the central bank would lift the benchmark rate a quarter point to 1.50 per cent. The few who didn’t thought ... Read More

Interest-Only Makes a Comeback

Canadian Mortgage Trends ~ June 22nd, 2018Innovative mortgage products. Remember those?With Ottawa’s onslaught of rule tightening, it’s been a while since we’ve seen a new product that was substantially unique. This is one of them.Merix Financial, the broker channel’s seventh-largest lender by market share, is launching the Interest-Only Flex mortgage on Monday.The IO Flex has one key purpose: to cut a borrower’s monthly carrying costs.While the rates are higher ... Read More

Mortgage Rates 101

Quite often I am asked, "What are the current mortgage rates"?  With the mortgage market today, this is not an easy question to answer anymore. . There are things to consider when it comes to mortgage rates: 1.    Is this a purchase, renewal or a refinance? 2.    If you are purchasing, how much is your down payment? Is it more or less than 20%?3.    What is your credit score?  It is Good or Bad?4.    When is the closing ... Read More

Oriana Financial was named as one of Canada's Top Independent Brokerage!

    Click here to view the article on page 32. Read More

10 Ways To Refresh Your House For Spring

HGTVAdd these tasks to your spring cleaning list to make sure the exterior of your home is in full bloom for warmer weather.Clean Out The ClogsAs the rainy season rolls in, it’s time to make sure your gutters are free of debris. Ignoring this notoriously painstaking task could lead to major problems down the road like foundation damage from all the water that can’t properly drain, basement flooding, or rotting wood just to name a few. It’s best to plan ahead and solve these ... Read More

Could you pass the mortgage stress test? Here’s how to find out

Global News - March 23rd, 2018As of Jan. 1, Canadians getting, renewing or refinancing a mortgage might have to undergo a stress test, proving that they would be financially OK even if interest rates were to rise substantially above their actual mortgage rate.That’s because new federal guidelines came into effect at the beginning of the year. They require all federally regulated financial institutions to vet borrowers’ applications using a minimum qualifying rate equal to the ... Read More

Two ways variable-rate mortgages are the better deal right now

Globe and Mail ~ March 27th, 2018 The safe and sound choice in today’s mortgage market is to lock down a rate for five years and let borrowing costs do what they may.That’s how you should proceed if you’re a nervous first-time home buyer or just holding things together financially as you renew. Everyone else, consider the variable-rate option. While they leave you exposed to rising interest rates ahead, variable-rate mortgages can be cheaper in two important ... Read More

Everyone’s mortgage is about to get more expensive

MACLEAN'S ~ January 17th, 2018Get ready for a rate shock adjustment that is expected to accelerate in 2019. The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signalled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years, those renewing mortgages will be faced with higher rates and an increase in payments.Even before Wednesday’s decision, five of ... Read More

Canada's advisers reveal their best suggestions for managing your money in 2018

Globe and Mail ~ January 2nd, 2018The people who have seen you naked, financially speaking, have some ideas about how you can better manage your money in 2018.Financial planners and investment advisers in my LinkedIn network were asked a few weeks ago to complete this thought: "If I could change one thing about how Canadians manage money, it would be to…" Here are some highlights from 199 comments covering a great range of topics, starting off with overspending and undersaving.Note the ... Read More