Bank of Canada raises qualifying rate to 5.34%
The Bank of Canada is raising its conventional mortgage 5-year qualifying interest rate from 5.14 to 5.34 per cent. Press release
FCAC warns Banks are not there to look after your best interest
In a recent CBC Go Public article, the Financial Consumer Agency of Canada (FCAC) deputy commissioner Brigitte Goulard said she “can understand” why bank employees and customers might feel disappointed by the regulator’s report. “The bank environment is a sales…
Bank of Canada maintains overnight rate, Prime will remain at 3.45%
Great news for all the variable rate mortgage holders. Prime will remain at 3.45%. You can start your happy dance now. The next scheduled date for announcing the overnight rate target is May 30, 2018. Press release
Bank of Canada maintains overnight rate, Prime will remain at 3.45%
Great news for all the variable rate mortgage holders. Prime will remain at 3.45%. You can start your happy dance now. The next scheduled date for announcing the overnight rate target is April 18, 2018. Press release
New Mortgage Rules Explained 2018
On October 3, 2016 the government of Canada announced that they were going to implement changes to the mortgage industry. These changes would take effect a few weeks later. To say these changes were a surprise would be an understatement….
Bank of Canada increases overnight rate, Prime will rise to 3.45%
The Bank of Canada has decided to increase the overnight rate today. Prime will now increase to 3.45%, up from 3.20%. The next scheduled date for announcing the overnight rate target is March 7, 2018. Press release
Bank of Canada maintains overnight rate, Prime will remain at 3.20%
Great news for all the variable rate mortgage holders. Prime will remain at 3.20%. You can start your happy dance now. The next scheduled date for announcing the overnight rate target is January 17, 2018. Press release
Why a 20% down payment may not be worth it
An informative article that does a good job explaining the impending mortgage rule changes. Click here