The Bank of Canada’s hefty interest rate drop this week may have some Canadian homeowners tied into expensive mortgages fantasizing about a lower rate. However, the potential of relocating to a new property with a lower interest rate, or refinancing to take advantage of lower monthly payments, is weighed against the severe penalties associated with...
The Bank of Canada (BOC) announced another half-point, i.e. 50 bps interest rate cut, bringing its benchmark policy rate to a two-year low of 3.75%. This is the fourth rate drop this year, lowering interest rates for borrowers with loans connected to the prime rate. From 5% in the starting of the year to 3.75%...
Want to know how recent rate cuts and new mortgage rules are going to affect your property buying dreams? The federal government’s recent move to raise the insured mortgage threshold is intended to make homeownership more accessible to Canadians who are planning to buy a home but have a low budget or limited finances. But...
Are you going to apply a mortgage to buy your first home? Getting a residential mortgage can greatly help in securing the funds you need to pay your seller or real estate broker. Before you apply a mortgage, it is important to understand the tips and tactics that can help you secure the best mortgage...
