stress test

Bank of Canada Rate Update

Yesterday the Bank of Canada left the overnight rate unchanged again, stating that the economy is performing as expected. It is expected to remain unchanged until at least October of this year. Many economists however, feel the economy could be heading for a recession and that rate cuts are necessary. The economic data over the… Read More…

Bank of Canada Set to Raise Qualifying Rate

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. … Read More…

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