Bank of Canada Announces Prime Rate Increase

As expected prime rate increased a quarter percent this morning. This affects variable rate mortgage holders $13/month per $100,000 mortgage balance as well as home equity line of credit holders. No changes to fixed-rate mortgages. https://www.bnnbloomberg.ca/bank-of-canada-raises-key-rate-to-1-75-1.1157338?fbclid=IwAR3TV-nRApNEhbPWMyx4vIcN1v7jFNWPW8ORjEO45nlsoBAhJYMj2eqqwGM

Ottawa, please don’t paint all housing markets with the same brush!

There has been many recent changes in the mortgage industry since Oct 2016 which have impacted home ownership with hopes of making needed changes in inflated housing markets in Vancouver and Toronto, although the changes were implemented nation wide. Our company’s very own Mark Kerzner and our professional association, Mortgage Professionals Canada’s have gone to …

Read moreOttawa, please don’t paint all housing markets with the same brush!