How Many More Rate Hikes Are Expected From the Bank of Canada?

By |2022-08-04T03:35:53+00:00August 4th, 2022|Mortgage Rates|

With the prime rate increasing by 2.25% since March, it’s only natural that many are worried about how much higher it will go. There is no shortage of doom and gloomers who will make it sound as though the sky is falling. “Rates are going to 20%!” The mere thought of this is enough to [...]

Fixed Mortgage Rates Are Finally Dropping!

By |2022-07-27T21:29:27+00:00July 27th, 2022|Mortgage Rates|

Since October 2021, fixed mortgage rates have been stuck a seemingly never-ending upward trend resulting in increases of more than 3.00%. Fortunately, it looks as though the upward trend has come to an end.   This leads to a few questions: Why are they dropping? How much have they dropped? How much lower can we [...]

Why Your Preapproval May No Longer Be Valid

By |2022-07-20T19:05:52+00:00July 20th, 2022|Mortgage Rates|

If you’re like most homebuyers, you got preapproved to find out how much you will qualify for prior to shopping for your new home.  Having a solid preapproval in place can give you the reassurance and peace of mind in knowing that you can put in unconditional offers to purchase your new dream home with [...]

The Largest Bank Of Canada Rate Increase In 24 years

By |2022-07-13T21:10:26+00:00July 13th, 2022|Mortgage Rates|

It was widely anticipated that the Bank of Canada would increase its key policy rate by as much as 0.75% in this morning’s scheduled announcement. However, they shocked the market by taking it one step further and increased it by a full 1.00%. This is the largest increase we have seen in a single announcement [...]

Have Fixed Mortgage Rates Reached Their Peak?

By |2022-07-06T20:58:12+00:00July 6th, 2022|Mortgage Rates|

Since the beginning of year, almost every piece of mortgage related news has been about increasing rates. As fixed mortgage rates have increased by roughly 3.00% since the fall, it’s understandable that they are getting their share of the headlines. But has the fixed mortgage rate increasing madness finally come to an end? For the [...]

How Much Higher Will Mortgage Rates Get?

By |2022-06-29T19:33:12+00:00June 29th, 2022|Mortgage Rates|

The question that many have on their minds is how much higher will rates go. Fixed mortgage rates have increased by roughly 3.00% since the September 2021 while the prime rate has increased by 1.25%. It’s no big secret that the Bank of Canada is not finished with their rate increases which will continue on [...]

The Effect Of Prime Rate Increases On Your Payment

By |2022-06-22T19:40:13+00:00June 22nd, 2022|Mortgage Rates|

If you are worried about rising mortgage rates than you are not alone. Fixed mortgage rates have increased by more than 3% since September 2021. Prime rate has increased by 1.25% since March with more rate increases on their way. All in all, prime rate is expected to increase by another 1.50% to 2.00% before [...]

Are You Worried About Rising Mortgage Rates?

By |2022-06-16T00:05:59+00:00June 16th, 2022|Mortgage Rates|

The Bank of Canada has increased their rate by 1.25% since the beginning of the year and are not finished. The next scheduled rate announcement is on July 13th when they are expected to increase by as much as 0.75%. That would be a triple increase in a single announcement.   But will they really [...]

How To Maximize Your Savings At Renewal

By |2024-02-29T18:49:56+00:00June 8th, 2022|Mortgage Rates|

One of the biggest mistakes that people make when their mortgage is coming up for renewal is to re-sign with their current lender without looking into other options. It’s super easy as you just need to sign the form and send it back to the bank. That’s it, you’re done!  Mortgage renewed!  But this can [...]

Bank of Canada Rate Announcement And What It Means For You

By |2022-06-01T20:21:29+00:00June 1st, 2022|Mortgage Rates|

The Bank of Canada announced this morning that they will be increasing their key policy rate by another 0.50%. This means that we can expect the prime rate to increase from 3.20% to 3.70%.  I would expect the big banks to be the first to announce that they have matched the increase, followed by monoline [...]

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