Alberta and pretty much the whole world is in a state of a public health emergency. Many jurisdictions are under forced quarantine, or shelter in place orders. In addition to the emotional, and...
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Mortgage Blog
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Mortgage Minute 2: COVID-19 and Mortgage Rates
We have seen the novel coronavirus spread faster than many of us thought. COVID-19 has closed schools and is hurting the economy. Today Alberta declared a state of emergency and most non essential...
Fixed Rates on the Rise Despite Covid-19 Scare
The Bank of Canada announced an unplanned change to their overnight rate to take effect Monday March 16, a cut of an additional 50 basis points just 9 days after the Bank had already cut the...
Big Banks Mirror Bank of Canada Rate Cuts
Within hours of the Bank of Canada's announcement that they had cut the overnight rate down by 50 basis points to 1.25% several big banks followed suit. It was uncertain whether the banks would move...
Bank Of Canada Cuts Rates for First Time Since 2015
The Federal Reserve made an unscheduled rate announcement yesterday and cut their overnight rate by 50 basis points. The Bank of Canada wasn't largely expected to cut its rate today at its scheduled...
Mortgage Minute 1: Bank of Canada Drops Rates by 50 points
The Bank of Canada cut its overnight rate for the first time in four years. This follows the US Central Bank doing the same thing just yesterday. In the BoC announcement it seems that the overall...
No Stress Test on Mortgage Renewals
More good news for people who have been struggling with the mortgage stress test! It was recommended by FINA (House of Commons Standing Committee of Finance) to the federal government that they...
New and Improved Stress Test!
The Department of Finance announced Tuesday changes to the mortgage stress test. "The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance...