“trigger rates” and “trigger points”….something you will be hearing of with more changes in the Bank of Canada rate. Let’s start with a few definitions: NOW, WHICH MORTGAGES WILL BE AFFECTED FIRST?Quick answer, VRMs from March 2020 to March 2022. During the month of March 2020, the prime rate dropped three times in quick succession from […]
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No Wonder The Bank of Canada Didn’t Hike Interest Rates Last Month
No Wonder The Bank of Canada Didn’t Hike Interest Rates Last Month Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions took a much larger toll in Canada than expected, as employment fell 200,100 in January and […]
Thank you so much for an amazing 2020!
2020 was one of the most strangest year’s ever as we all know. One of those strange things was how amazingly busy the market was, even with a couple month break due to shut downs and so forth. I was still able to, with the help of my amazing clients, friends and family, achieve a […]
New Benchmark Rate For Qualifying Insured Mortgages
The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to help more Canadians achieve their housing needs while also taking measured […]
What’s In Store For 2019
Our own Dr. Sherry Cooper gives us her stance on how 2019 will be for Canada. At the start of every New Year, pundits posit the forecast as everyone wonders what the year will bring. While no one has a crystal ball, here are some fundamentals at play this year: 1). Canada’s economy will continue […]