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 [...]
Why NOT To Lock-In A Variable Rate Mortgage
Why NOT To Lock-In A Variable Rate Mortgage Choosing between a variable rate and a fixed rate mortgage is an important decision. There will also always be merits for choosing either at any point in time. This why I believe that the rate type (fixed vs. variable) one selects should be best matched against the [...]
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 [...]
Fixed Mortgage Rates On The Rise – 2 Commonly Asked Questions
Fixed rate mortgage, variable rate mortgage – Two commonly asked questions. When fixed mortgage rates are on the rise and there is a spread between fixed and variable mortgage rates, there are two commonly asked questions. Which type of mortgage is best for me, a fixed or variable rate I have a variable rate mortgage [...]