Bank Prime Rate Up – Savings Tip
Bank Prime Rate Up (variable rate mortgages) – Savings Tip This morning the Bank of Canada met and decided to raise the overnight lending rate by 0.25%, which was expected. Banks are expected to follow and adjust their prime rate to 2.75% over the next day or so and some have already made this adjustment [...]
Bank Prime Now Up – Just a bit and a slow rise
Bank prime rate increase, but just by a bit and slow and delayed rise suggested. At yesterdays meeting the Bank Of Canada decided to raise the target for the overnight rate by 0.25%. This is the first increase since 2007 and has been expected for some time now. Banks have started to mirror this change [...]
Consider A Shorter Term To Save With Your Mortgage
Consider A Shorter Term To Save With Your Mortgage Once you have answered the question whether to go with a fixed or variable rate, and if you have chosen to go with a fixed mortgage rate, do not automatically assume you should select a five (5) year term. Terms shorter than five (5) years can [...]
Your Variable Rate Mortgage, Rate Unchanged.
Your variable mortgage rate is unchanged. Bank prime rate held at same level. The Bank Of Canada announced today that it will leave the target for the overnight rate unchanged so we can expect Bank’s prime rate to also remain unchanged. The next meeting for the Bank Of Canada will be on June 1, 2010 [...]
Lowest rate assumed. What I do not assume is …
Lowest mortgage rate assumed. What I do not assume about my clients is … I am often asked “what is the lowest rate you have available”? This is a difficult question to answer while ensuring you are also truly helping your client, without knowing more information. It is important to know what your client’s needs [...]