Oct 27, 2017 | Interest rates, Mortgages
The next new mortgage regulation, which comes into effect 1 January 2018, will require borrowers to qualify based on a rate that is 2 percentage points above the contract rate or the Bank of Canada posted 5-year rate (currently 4.89%), whichever is higher. The “stress...
Apr 20, 2016 | Housing market, Interest rates, Mortgages
House prices and market activity continue to increase, especially in Vancouver and Toronto, even after measures taken by Finance Minister Bill Morneau, which took effect in February. Increasing the required down payments for home purchases valued above $500,000 was...
Apr 13, 2016 | Interest rates
The Bank of Canada announced today that it will keep its overnight rate at 0.5%, effectively making the bank rate 0.75% and the deposit rate 0.25%. Twice last year, the bank cut their rate, hoping to stimulate the economy. Since then, the economy has started...
Mar 24, 2016 | Housing market, Interest rates
The Liberal government is spending big and aiming high with its first budget. Finance Minister Bill Morneau delivered a budget aimed at creating some stimulus for a slowing economy. Unemployment has risen recently to 7.3%, and this new budget, which includes billions...
Mar 16, 2016 | Credit, Housing market, Interest rates, Investing, Mortgages
Our MOPOLO app helps you keep your possessions safe, makes it easy to apply for credit, and helps you stay updated on the mortgage market. 1. Track your inventory For many people, their home, and its contents are their most treasured possessions. MOPOLO lets you keep...
Mar 9, 2016 | Interest rates, Mortgages
The Bank of Canada announced today, unsurprisingly, that it was keeping its overnight rate target at 0.5%. The bank considers that inflationary risk is “roughly balanced” and “financial vulnerabilities continue to edge higher” as the Canadian economy continues to...
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