Bank of Canada maintains overnight rate target at 1/2 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation in Canada is evolving broadly as expected. Total CPI inflation remains near the bottom of the Bank’s target […]

Bank of Canada Rate Update!!!

Bank of Canada maintains overnight rate.

Yet again, the Bank of Canada has opted to keep the target for the overnight rate steady at ½ percent-meaning variable rate mortgages won’t be moving any time soon.

The Bank attributed it’s move (or lack thereof) to weaker-than-expected global economic growth and uncertainty surrounding China’s transition to a […]

Bank of Canada Rate Update

Good news for variable clients and those with lines of credit.

Bank of Canada maintains overnight rate!

Despite global economic uncertainty fuelled by the situation in China, the Bank of Canada is opting to maintain it’s target for the overnight rate at 0.5% this month-although some economists believe another rate cut may still be in […]

Choosing the right Mortgage Broker can save you $1,000's!

Finding the best rate is a FREE service to our clients! More lenders are competing for your business. That’s why more than two out of five Canadian mortgages are now handled by a Mortgage Brokers.

Just as an Insurance Broker finds you the best deal on insurance, a Mortgage Broker finds you the best deal […]

FINANCING A FORECLOSURE

Many people look at purchasing a foreclosure because the price is right. If you are thinking of buying one, here are some things you should think about.

Once a property is listed as a foreclosure on the MLS, it has gone to a court ordered sale. The dealings will be through the realtor the bank […]

boc-hints-at-mortgage-tightening

In the past few years, the Minister of Finance has been imposing tougher lendering rules making it much harder for the average person to qualify for a mortgage. Even though interest rates are at an all time low, it’s a very good idea to have all of your ducks in a row before writing an […]

Canadian Mortgage Trends

“Following the spring/summer rate spikes of 2013, homeowners feared that the low-rate ship had sailed. And now, only 6 to 7 months later, the market is again flush with sub-3% mortgages.

“Just yesterday, in fact, Scotiabank launched the lowest mass-market 5-year fixed rate in its history: 2.97%. (Mind you, this is a rate the bank […]