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View this RSS Feed2025-04-22 | 07:25:34
Update ~ April 2025
The Bank of Canada took a break from cutting the interest rates last week, and the word of the day was ‘uncertain’. Their press release used that word no fewer than ten times. The Bank of Canada has a sole mandate of keeping inflation steady at a...
2024-09-16 | 11:38:19
New Mortgage Rule Changes!
The federal government announced two new mortgage rule changes today in an effort to make is easier for people to buy homes. These new guidelines will come into effect on December 15th of this year.First, purchasers will now be able to buy homes up...
2024-09-06 | 05:40:39
Interest Rate Update ~ September 2024
As widely speculated, the Bank of Canada lowered their overnight rate to 4.25% on Wednesday, and all of the retail banks dropped their Prime Rate to 6.45% in response. This is good news for Canadian borrowers as variable mortgage rates and home...
2024-06-11 | 10:25:16
Bank of Canada Rate Drop - What it Means to You
The Bank of Canada lowered it’s Overnight Rate last week by .25%, which has lead the retail banks to drop their ‘Prime Rate’ to 6.95%. How does this affect you? If you are on an adjustable rate mortgage where your payments fluctuate with any...
2024-04-11 | 11:28:12
Economic Update - April 2024
The Bank of Canada released their overnight interest rate decision earlier today and as expected, they have left it unchanged at 5.00%, which means that the majority of banks in Canada have their mortgage prime rate at 7.20%. The good news for...
2024-03-07 | 07:15:12
Update ~ March 2024
Yesterday The Bank of Canada held the overnight rate (which affects variable rate mortgages) at the current level, but there are clear signals that the two-year run of higher interest rates is nearing its end. Inflation figures have been receding to...
