Happy New Year from the Mortgage Professionals! We hope that this new year brings you new opportunities and above all, prosperity and health for you and your loved ones. As your trusted Mortgage Professional, we will continue to help you make informed decisions about your mortgage and keep you up-to-date … Read More
Inflation, the Canadian Housing Market, and the final Rate Announcement of 2022
Today the bank of Canada has made its final rate announcement of the year and has once again raised its overnight lending rate by 0.50%. In today’s blog, we will be your one-stop shop for understanding what this means as a Canadian mortgage holder and what to expect going into … Read More
Bank of Canada Announcement: October 26th Rate Increase
The Bank of Canada announces its sixth rate increase since March 2022. Raising the Prime rate to 5.95% with efforts to combat Inflation.
September 7th: Prime Rate Announcement & Your Trigger Rate
You have likely heard a lot of talk about your “trigger rate” and “trigger points”. How will another Prime Increase affect your mortgage?
Everything you need to know about Trigger Rates.
Increasing interest rates are pushing most borrowers closer to their trigger rate – a level at which their regular monthly payments will not be sufficient to cover the interest.
July 13th Rate Announcement: Bank of Canada increases the Prime Rate rate by 1%.
With recent Bank of Canada interest rate hikes, here is what you need to know about how these fiscal policy changes affect your mortgage. First and foremost, the interest rate hikes directly affect individuals that currently have an adjustable-rate mortgage.
Bank of Canada Business Outlook and Consumer Expectations Surveys | Q2 – 2022
Every Quarter, the Bank of Canada releases its Business Outlook Survey and Consumer Expectations Survey to analyze Canadian businesses and individuals’ general perceptions and current operations. The two combined allow the Bank of Canada to forecast future market trends and gather a broad range of economic perspectives. Below, find the … Read More
The Bank of Canada (BOC) has raised the overnight rate for the first time since October 2018.
The Bank of Canada today increased its target for the overnight rate to 0.5% from its previous 0.25% where it has been since March 2020. This change will roughly equate to an increase of $12 per every $100,000 borrowed, depending on the Lender. The Bank is continuing its reinvestment phase, keeping … Read More