On Monday, May 14 the Bank of Canada will be raising the qualifying mortgage rate for prime mortgages to 5.34%. It currently sits at 5.14%. This will affect borrowers wanting a variable rate the most. If you’re wanting to qualify for a mortgage before the rate increases, you only have a couple more days left. Contact me today to discuss how this may affect you. 1.877.336.3545 or donnal@dominionlending.ca.
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