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View this RSS Feed2024-09-16 | 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...
2023-03-08 | 12:59:31
Economic Update ~ March 2023
Today, the Bank of Canada followed through on their January promise to keep the Overnight Rate (and therefore the Prime Rate) unchanged for a period of time to give the last eight consecutive increases time to work their way through the economy. Most...
