Abbotsford Real Estate

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 will need to meet qualifying criteria for a five-year fixed rate mortgage even if they opt ...

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 are worried that when interest rates rise upto 10% homeowners may not be able to keep up with ...

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, unless there is a sudden surge in inflation. The central bank reaffirmed its pledge to hold ...

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. Bank of CANADA also signalled that it would keep the interest rate at this level until the end of ...

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 after the central bank cut its rate, the big commercial banks reduced their prime lending rates ...

"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. 22, 2008. Two weeks ago, TD lagged other Canadian banks when they all made two reductions in ...

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 major central banks. The bank hinted that it may cut further at the next scheduled announcement ...

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. Canada Mortgage and Housing Corp (CMHC) will buy as much as C$25 billion in mortgages from the ...

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 on October 21 came along with rate cuts from central banks across the world. Normally, the ...

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 require a minimum down payment of five per cent of the value of a home. Mortgages will be limited ...