After the Bank of Canada’s second rate announcement of 2023, the prime lending rate will remain unchanged at 6.70%. Topics covered in Today’s Blog: Our job is to help you simplify the mortgage process As your Mortgage Professional, I understand that this past year has been particularly trying for many … Read More
Debt consolidation and the first rate announcement of 2023.
Happy New Year from the Mortgage Professionals! We hope that this new year brings you new opportunities and above all, prosperity and health for you and your loved ones. As your trusted Mortgage Professional, we will continue to help you make informed decisions about your mortgage and keep you up-to-date … Read More
Inflation, the Canadian Housing Market, and the final Rate Announcement of 2022
Today the bank of Canada has made its final rate announcement of the year and has once again raised its overnight lending rate by 0.50%. In today’s blog, we will be your one-stop shop for understanding what this means as a Canadian mortgage holder and what to expect going into … Read More
Bank of Canada Announcement: October 26th Rate Increase
The Bank of Canada announces its sixth rate increase since March 2022. Raising the Prime rate to 5.95% with efforts to combat Inflation.
Everything you need to know about Trigger Rates.
Increasing interest rates are pushing most borrowers closer to their trigger rate – a level at which their regular monthly payments will not be sufficient to cover the interest.
Refinance and Use the Equity in your Home to Consolidate your Debt.
In this current inflationary market, rising costs of living can make it difficult to manage your finances. Debt consolidation can help if you have an existing mortgage, high-interest credit card balances and personal loans. However, if you have equity in your home, you can utilize it to your benefit. Equity … Read More
Inflation, The Stress Test, and The Difference Between; Fixed, Variable and Adjustable Rates.
With all the recent market changes, finding the best mortgage solution for you is a much larger picture than just finding the best rate.
Bank of Canada Increases the Prime Rate to 3.7%
The Bank of Canada (BoC) has once again raised the Prime Rate by 50 basis points, or 0.5%, bringing the current Canadian Prime Rate as of June 1st, 2022 to 3.7%.
Thinking About Locking Into a Fixed Rate Mortgage?
To Lock in or Not to Lock in? That is the Question. Locking into a fixed-rate mortgage has been a hot topic. It’s without a doubt that since the beginning of 2022 the mortgage world has fluctuated and caused quite a stir amongst Banks, Private Lenders, Mortgage Brokers, and Mortgage … Read More
The Latest Bank of Canada Rate Increase and its Effects on Housing Affordability.
The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1.25% and the deposit rate at 1%. Housing affordability has been a long-run Canadian concern. Since its last announcement in March, the Bank continues to set its course for increased Quantitative … Read More