Mortgage Rate Update – Possible Delay In Increase
Variable Rate Mortgages – Bank Prime Rate For some time now we have been hearing that we should expect the Bank of Canada and therefore Bank’s Prime rate to start rising around July of this year, 2010. However, recently in the new there has been suggestion that raising rates at this time could be a [...]
Bank Prime Rate – Variable Rate Mortgage, No change
Bank Of Canada Meeting – No Change Prime or Variable Rate Mortgages Once again, the Bank of Canada announced it would keep the key interest rate at a record low to achieve its inflation target of two per cent. As such, Bank’s Prime rate will also likely remain unchanged from its current level of 2.25%. [...]
Bank Prime Rate Unchanged – Variable Rate Mortgages
When the Bank of Canada met yesterday, December 8, 2009, they decided to leave the target for the overnight lending rate unchanged. This means that banks will most likely leave their prime rate also unchanged. Bank’s prime rate currently is 2.25%. This rate is projected to remain steady through to July 2010, after which increases [...]
Mortgage Penalties For Variable Rate Closed Mortgages
Mortgage Penalties For Variable Rate Closed Mortgages When arranging a mortgage I recommend to be aware of much more than simply who will your mortgage be with and what interest rate are you receiving. Mortgage penalties is just one example of an important factor that should not be overlooked. For more information on mortgage penalties [...]
Have a Variable Rate Mortgage? Should You Be Following Fixed Rates?
Have a Variable Rate Mortgage? Should You Be Following Fixed Rates? People who choose a variable rate mortgage should be comfortable with some amount of fluctuation in their payment over time as banks will adjust their prime rate from time to time.Variable rate mortgages have been identified as offering costs savings over five-year fixed mortgages [...]