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Category: Uncategorized
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Understanding the Current Mortgage Rate Trends: A Closer Look
April 18th, 2024: As homeowners with variable-rate mortgages eagerly await potential rate cuts from the Bank of Canada, the fixed-rate market is witnessing a different trajectory: an upward trend. Since early October, Government of Canada bond yields, which serve as a leading indicator for fixed mortgage rates, experienced a significant drop of 125 basis points,…
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Empowering First-Time Buyers: Canada Extends Mortgage Amortization and RRSP Withdrawal Limits
In a recent announcement, Finance Minister Chrystia Freeland unveiled significant measures aimed at easing the path to homeownership for first-time buyers across Canada. Effective August 1, the federal government will extend the allowable amortization period for insured mortgages on newly constructed homes to 30 years, a welcome relief for many aspiring homeowners grappling with soaring…
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GDP’s Effect on The Latest Bank of Canada’s Rate Announcement
Welcome to the Mortgage Professionals Insights Blog, your trusted source for demystifying what goes into the Bank of Canada’s decision-making process when it comes to deciding what to do with interest rates. In this in-depth article, we’ll delve into the latest Bank of Canada interest rate announcement and unravel its implications for homeowners, whether they…
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Spring Market Forecast and the latest rate decision from the Bank of Canada
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 of you, as the economic…