17 Jun 2018

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The argument for variable rate mortgages

When searching for a home, choosing the right mortgage is a big part of the equation. Your mortgage broker can always walk you through your options, but really understanding what’s available to you can make things a little simpler. Conventional and High-Ratio: A mortgage loan with less than 20% for a down payment, is considered high-ratio, and must be insured. A conventional mortgage loan has a down payment of 20% or more. Open and closed: Open mortgages allow flexibility to pay as much as you’d like at any time (ideal if you’re expecting large amount(s) of money). Closed mortgages with consistent payments are usually favourable…

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17 Jan 2018

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Bank of Canada raises the rate,...

On Wednesday, the Bank of Canada announced it was hiking its interest rate to 1.25 per cent, up…

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6 Dec 2017

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Bank of Canada leaves rates alone

Today, the Bank of Canada announced that rates would remain unchanged at one per cent, as they expect…

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13 Jul 2017

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Why the Bank of Canada changes rates

This week, the Bank of Canada raised their interest rate for the first time in seven years. But…

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1 Mar 2017

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Bank of Canada’s Hands Remain Tied

As you know, your variable rate mortgage, line of credit and/or student loans are all based on the…

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