Bank of Canada Rate Update – No Change

The Bank of Canada today announced that it is maintaining it’s 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. The global economy is progressing largely as the Bank anticipated in...

Mortgage Rate Projections

Mortgage rates continue to be a major question for those looking to buy a home. Concerns about rising rates linger and there appear to be mixed signals coming from the Bank of Canada.

Bank of Canada Leaves Interest Rates Unchanged

The Bank of Canada left its interest unchanged today at 1%. This means that Bank Prime rate will remain unchanged at 3%. This is the interest rate that variable rate mortgages and lines of credit are measured against. This interest rate has remained unchanged since September 2010. This is the longest period of unchanged interest rates since the mid-1950bs.

Interest Rate Projections

Canadians appear to be getting their household debt in order. And that’s showing up on the bottom line at the big banks. After some 15 years of fuelling bank profits, consumer loans are on the decline. Q2 earnings reports from Canada’s major banks start...

Not all Variable Rates are the Same!

Choosing the mortgage that's right for you involves a little bit more than merely deciding whether you're a fixed or variable type of person – particularly if you opt for a variable rate mortgage.<br><br>
It's not enough to choose a variable rate mortgage based solely on rate – you also have to consider what type of variable rate you'd prefer. Below is a breakdown of the most common types: