On May 20, 2021 OFSI announced a new qualifying rate for UNINSURED mortgages, now the Federal Government is following suit. As of June 1, 2021, the minimum qualifying rate for ALL mortgages (uninsured and insured) will be the greater of…
As of June 1st, uninsured mortgages must qualify at the greater of a 5.25% interest rate or the contract rate plus 2%. You can read the formal announcement here.
The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is June 9, 2021. Press release
The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is April 21, 2021. Press release
The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is March 10, 2021. Press release
The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is January 20, 2021. Press release
The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is December 9, 2020. Press release
The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is October 28, 2020. Press release
The Bank of Canada has decided to maintain the overnight rate today. Prime will remain at 2.45%. The next scheduled date for announcing the overnight rate target is September 9, 2020. Press release