It’s been a month since the first of the new federal mortgage rules came into effect. Now, RBC has become the second of the five big banks to raise mortgage rates – effective Thursday. How else have these new rules impacted our purchasing power?
TD Canada Trust is the first bank to raise its prime rate for variable rate mortgages since new federal mortgage rules were introduced last month. So is this the beginning of a trend?
No surprise this time around: The Bank of Canada is leaving the overnight lending rate at 0.5 per cent – where it has been since July of 2015. Read on to find out how this will impact fixed and variable rate mortgages.
Fixed rate mortgages are pretty straightforward, but a variable rate mortgage depends on the Bank of Canada’s overnight lending rate. So what happens if that rate should change? Read on to find out!
As expected, the Bank of Canada has decided to keep the overnight lending rate at 0.5 per cent. Read on for more on how this will affect your mortgage and the factors behind keeping the status-quo.
Is it a good idea to refinance your mortgage? Given the penalties for breaking a mortgage, it’s not always clear if you’ll save – here’s how to tell if refinancing is for you.
Canada’s banks have finally responded to the Bank of Canada’s Overnight Lending Rate cut, with a 15 basis point discount to their Prime rates. Could more cuts be on the way? Read on to catch up on this week’s biggest Housing Headlines.
Will dropping oil prices cause a major slowdown in Canada’s housing market? Read on to see how consumers will be affected in this week’s edition of Housing Headlines.
This week, the Bank of Canada announced no change for its Overnight Lending Rate, the central interest rates that set the benchmark for the cost of borrowing in Canada. Governor Stephen Poloz followed the announcement with a few statements on our economy’s biggest risk factors. Read on for his main takeaways.