The Canadian housing market is always changing, so it’s important to understand key financial terms – especially if you have a mortgage or want to buy a home. One of these key terms is the Prime Rate, which affects how much you pay on your mortgage each month. Let’s break down […]
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In its latest effort to foster economic stability, the Bank of Canada has reduced its key lending rate by 50 basis points (0.50%). This marks the fourth consecutive rate cut, reflecting ongoing adjustments to support economic growth and manage inflation. Quick Overview: This rate cut directly impacts mortgages and lines […]
There’s some important news for anyone with a mortgage or considering getting one! The Bank of Canada has just reduced its key lending rate by 0.25%, moving the overnight rate down to 4.25%. This is part of an ongoing effort to manage economic growth and inflation, marking the third consecutive […]
I’m excited to share some great news that came out of the Bank of Canada today! The Bank has reduced its key overnight rate to 4.50%, a move that’s aimed at bolstering the economy—which means some potentially great benefits for your wallet, especially if you have a variable-rate mortgage or […]
In a notable development amidst fluctuating global economic conditions, the Bank of Canada has reduced the prime lending rate by .25%, signaling a shift towards less restrictive monetary policy. This adjustment, paired with ongoing balance sheet normalization, is poised to influence both current and prospective homeowners significantly. Current Economic Overview:As […]
The financial horizon just received an important update from the Bank of Canada, and it’s crucial to understand what this means for your financial journey and home ownership dreams. Interest Rates: A Steady Course In a significant move, the Bank of Canada has decided to keep the overnight rate steady […]
The financial landscape just got a fresh update from the Bank of Canada, and it’s time to dissect what this means for your wallet and home. Interest Rates: Holding SteadyThe Bank of Canada has made the call to keep the overnight rate anchored at 5%. Alongside this decision, the Bank […]
When considering a mortgage, one of the biggest decisions you will make is whether to go for a fixed or variable rate. A variable rate mortgage can offer flexibility and potentially lower interest rates, but also carries the risk of interest rate increases. You may think in today’s times with […]
Interest rates have risen considerably – we all know this. None of us knows where they go from here, but what should you do with your mortgage, especially if it is coming up for renewal? Most experts are recommending the five-year variable-rate mortgage or the 2- or 3-year fixed rate […]
The Bank of Canada held rates steady at 5% with today’s announcement, meaning there will be no change to lender’s prime rates. Watch the video below for more information: Today’s rate hold was fueled by last week’s weaker-than-expected GDP data, a decline in housing activity, as well as the impact […]
