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Bank of Canada Rate Announcement

2022-09-18 | 11:55:59 The Bank of Canada has raised its policy rate to 3.25% today, marking the fifth consecutive rate increase in 2022. The Bank has stated borrowing costs need to rise to bring inflation back to a target of 2% from the current 7.6%. In theory, higher...

Do you know about the sliding scale rule when getting a mortgage?

2022-07-13 | 08:17:36 You’re likely aware that the minimum downpayment to avoid mortgage default insurance is 20%. What many may not be aware of is that a downpayment of greater than 20% will sometimes be required. A mortgage sliding scale is where the minimum...

Variable Rate Mortgage vs Adjustable Rate Mortgage - Do you know the difference?

2022-07-11 | 15:04:17 Although both are impacted by changes to the Prime Rate, Variable Rate and Adjustable Rate Mortgages are not the same. This video helps to explain the key differences. For more information, reach out to review and discuss which may be your best...

Bank of Canada Rate Increase - June 1st 2022

2022-06-06 | 08:34:59  The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy of quantitative tightening (QT).Inflation globally and in Canada continues...

How Mortgage Penalties Are Calculated

2022-06-06 | 08:28:07 If you have a variable rate mortgage and recent economic news has you thinking about locking into a fixed rate, here’s what you can expect will happen: you can expect to pay a higher interest rate over the remainder of your term and could end up...

Bank of Canada Rate Increase

2022-04-13 | 12:03:00 As many predicted, this morning the Bank of Canada announced that it is increasing the overnight lending rate by 0.50% in an effort to control the soaring inflation rate. What does this mean for the Canadian consumer?Expect Banks and Lenders to...