The Bank of Canada decided to increase the overnight lending rate to 1.75% on October 24th 2018. This is the interest rate that the Bank of Canada charges the Chartered Banks to borrow money, which they need to do frequently in order to balance their books at the end of each day. The costs of … Read more
Hi everyone, I usually wouldn’t Blog about rates increases, but there’s an acceleration of the frequency of increases this Fall. Two weeks ago, there were across the board increase across several major lenders and I managed to get several existing clients into rate holds to hold the rate for about 4 months. Well, it looks … Read more
There are many great arguments for and against entering into a Variable Rate versus a Fixed Rate, but I won’t be chiming in on that debate today. Today’s post is for those who are in Variable Rates and are happy to remain. One of the greatest benefits of a Variable Rate Mortgage is the Low … Read more
