Want to apply a mortgage? Eager to know how the latest rate cut will impact mortgage payments? The central bank declared on January 29 that it would reduce its lending rate by 25 basis points to 3%. The BoC lowered its lending rate by 50 basis points in December for commercial and residential mortgages. The...
Good news for prospective home buyers! The Bank of Canada (BOC) just announced another 50 basis point cut to its policy rate, taking it down to 3.25% from 3.75%. This rate cut is a significant move that is surely going to improve the market gap in real estate. The Dec. 11 move is the central...
Canadians who have difficulty qualifying for a bank mortgage might turn to private lenders for private mortgages. Private mortgages are different from conventional loans offered by banks. These mortgages are best suited for borrowers seeking flexibility in form of terms and conditions. Although qualifying for a private mortgage is easier, it does have certain drawbacks...
