News that may be of interest
Good news!! Benchmark rate falls. The Benchmark rate or Qualifying rate ensure borrowers can handle their payments if rates go up. In practice, lenders use the qualifying rate to calculate your debt service ratios. Lenders then check to ensure your…
Given recent global events, we fully understand that these may be difficult times for its homeowners. We are in constant contact with all of our lenders we do business with and most of them have implemented some form of financial…
Lenders fully pass on to borrowers the Bank of Canada’s second interest rate cut this month in response to the coronavirus. For the full story click here.
The Bank of Canada has decided to reduce the overnight rate today in an unscheduled announcement. Prime may drop to 2.95% (previously 3.45%). This is great news for variable rate mortgage holders. The next scheduled date for announcing the overnight…
The Bank of Canada has decided to reduce the overnight rate today. Prime will fall to 3.45% (previously 3.95%). This is great news for variable rate mortgage holders. The next scheduled date for announcing the overnight rate target is April…
The Bank of Canada has decided not to increase the overnight rate today. Prime will remain at 3.95%. The next scheduled date for announcing the overnight rate target is January 22, 2020. Press release
The Bank of Canada has decided not to increase the overnight rate today. Prime will remain at 3.95%. The next scheduled date for announcing the overnight rate target is December 4, 2019. Press release
The Bank of Canada has decided not to increase the overnight rate today. Prime will remain at 3.95%. The next scheduled date for announcing the overnight rate target is October 30, 2019. Press release
Good news!! Benchmark rate falls. The Benchmark rate or Qualifying rate ensure borrowers can handle their payments if rates go up. In practice, lenders use the qualifying rate to calculate your debt service ratios. Lenders then check to ensure your…
The Bank of Canada has decided not to increase the overnight rate today. Prime will remain at 3.95%. The next scheduled date for announcing the overnight rate target is September 4, 2019. Press release