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16 February 2010
Mortgage Rules Have Changed. Effective April 19th
Govt. of Canada changed some mortgage rules today to make it a little harder to get a new mortgage or refinance an existing mortgage. There are 3 changes in rules aimed at home buyers, investors and borrowers who may be planning to refinance. Home buyers Read More...
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21 December 2009
You may need more down-payment next year.
Canadian Govt is considering plans to make it harder for Canadian to buy a home. Finance Minister Jim Flaherty says that conservatives in Ottawa may tighten mortgage eligibility rules to avert a possible housing bubble. The government and Bank of Canada Read More...
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04 June 2009
Interest rate unchanged
The Bank of Canada kept its key lending rate at a historic low. The decision to leave borrowing rates unchanged came as no surprise because the central bank said in April it would leave the overnight rate at 0.25 per cent until the middle of next year, Read More...
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21 April 2009
Prime Rate Hits Lowest Level in History
The Bank of Canada cut its key lending rate to another record low today. The target rate for overnight loans between commercial banks is reduced to 0.25 percent, the lowest since Canada's central bank was founded in 1934 and the lowest it can go. Read More...
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21 January 2009
Bank of Canada Makes History - Prime Rate @ 3%
The Bank of Canada has cut its main interest rate by half a percentage point to one per cent - lower than in 1958, when the most-watched policy rate was 1.12 per cent. This cut brings key interest rate to the lowest level in Canadian history. Shortly Read More...
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21 October 2008
Prime Drops To 4%
"Experts" were wrong. Prime rate is down at 4%. TD Canada Trust was the first of big Canadian banks to move on interest rates this afternoon when it announced that it has lowered its prime lending rate by 35 basis points to 4%, effective Oct. Read More...
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21 October 2008
Interest Rate Cut Again. Will Prime Rate Come Down?
The Bank of Canada cut its key interest rate again today (October 21st) by a quarter of a percentage point, attempting to give the Canadian economy a boost. Today's cut follows an unscheduled half-point reduction on Oct. 8 in co-operation with other Read More...
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10 October 2008
Prime Rate Drops To 4.25% With Govt. Help.
Canadian banks moved to lower prime lending rates today. The 2nd cut to prime rate in this week comes after the Canadian government moved to shore up the nation's banks by taking on some of their mortgages in a bid to ease higher borrowing costs. Read More...
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08 October 2008
Unexpected Interest Rate Cut - Prime Rate 4.50%
The Bank of Canada cut its key interest rate by 50 basis points to 2.50 percent today in a coordinated effort with other central banks to help calm the financial markets. The decision to lower its key rate ahead of its scheduled interest rate announcement Read More...
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10 July 2008
Get 0 Down Mortgage & 40-Year Amortization While You Can
Starting Oct. 15, 2008 Canadians will no longer be able to purchase a home with a government-backed mortgage with a 40-year amortization and no down payment. The Finance Department said Wednesday it will no longer guarantee 40-year mortgages and will Read More...
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22 April 2008
Bank of Canada cuts interest rate, Prime @4.75%
As expected, The Bank of Canada slashed its key interest rate by half a percentage point and warned of softer economic growth this year. The central bank's key rate now stands at 3 per cent, a full 150 basis points lower than where it stood last fall. Read More...
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27 February 2008
Another Interest Rate Cut Coming
Inflation is at its lowest level in the last 5 month period and a cut in interest rates is widely expected by mortgage and securities professionals. The recent 1% cut in the GST is believed to be one of the biggest factor of lower inflation rates in Canada. Read More...
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