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
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 December 6 2017. Press release
New stress test for uninsured mortgages as of January 1, 2018
The Office of the Superintendent of Financial Institutions Canada (OSFI) has thrown down the gauntlet once again. If you were planning on purchasing real estate with a down payment of 20% or more, you might want to consider doing it…
Bank of Canada increases overnight rate, Prime will rise to 3.20%
The Bank of Canada has decided to increase the overnight rate today. Prime will now increase to 3.20%, up from 2.95%. The next scheduled date for announcing the overnight rate target is October 25, 2017. Press release
Are more changes coming to the mortgage world?
This article has some good insight on what may become reality. One thing for sure, current mortgage rates are still at historical lows. If you are thinking about purchasing real estate, now might be better than later. http://www.bnn.ca/realtors-brace-for-next-mortgage-crackdown-amid-shadow-banking-fear-1.827890
Bank of Canada increases benchmark qualifying rate to 4.84%
The Bank of Canada has increased the benchmark qualifying rate 0.20% to 4.84%. All insured or insurable mortgages use the benchmark rate to qualify borrowers. The benchmark rate is used to ensure borrowers can handle their payments in the event…
Bank of Canada increases overnight rate, Prime will rise to 2.95%
The Bank of Canada has decided to change the overnight rate today. Prime will now increase to 2.95%. The next scheduled date for announcing the overnight rate target is September 6 2017. Press release
Bank of Canada maintains overnight rate, Prime will remain at 2.70%
Great news for all the variable rate mortgage holders. Prime will remain at 2.70%. You can start your happy dance now. The next scheduled date for announcing the overnight rate target is July 12 2017. Press release
Mortgage Professionals Canada announce new consumer advocacy campaign
TORONTO, April 25, 2017 /CNW/ – Today, Mortgage Professionals Canada launched a new web-based consumer advocacy campaign and website www.tellyourmp.ca to support its ongoing efforts to inform and educate Members of Parliament (MP) about the negative impacts of the federal government’s…
Bank of Canada maintains overnight rate, Prime will remain at 2.70%
Great news for all the variable rate mortgage holders. Prime will remain at 2.70%. You can start your happy dance now. Press release The next scheduled date for announcing the overnight rate target is May 24 2017.