by Steve Randall 18 Mar 2020 Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers. Measures to support both health and finances will have some common elements across the ‘Big Six’ banks - RBC, CIBC, TD, Scotiabank,...
Steve Huebl Bank of Canada March 5, 2020 Canada’s prime rate fell to 3.45% today for the first time since July 2018. This is good news for floating-rate mortgage holders and those with Home Equity Lines of Credit or regular lines of credit. And it’s all thanks...
March 4, 2020 The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. While Canada’s economy has been operating close to potential...
by Kimberly Greene 18 Feb 2020 Minister of Finance Bill Morneau has announced changes to the benchmark rate used to determine the minimum qualifying rate for insured mortgages. Instead of the Bank of Canada 5-Year Benchmark Posted Rate, the new benchmark rate will be the weekly median...
Saving enough for your retirement in Canada can be a challenge. As the average life expectancy continues to rise, retirement savings are being stretched further over many more years. Today, many Canadians just like you, are looking for ways to supplement their income as they...
Steve Huebl·Mortgage Broker NewsMortgage Regulations·February 4, 2020 After six long months of no changes to the big banks’ posted rates, TD Bank broke the ice on Tuesday by lowering its 5-year posted rate to 4.99% from 5.34%. While the big banks adjust their “special” rates regularly (as...
By Doyle Potenteau -Global News Home prices in Kelowna have decreased from last year, but there are increased levels of construction activity in the Central Okanagan, according to a new real estate survey. According to Royal LePage, in the third quarter of 2019, the median...
By Jules Knox -Global News As Kelowna’s skyline inches higher and higher, the average price for a home is creeping up too. Compared to this time last year, single family residences are up by three per cent and condominiums are up by 11 per cent,...
by Bloomberg 04 Sep 2019 by Theophilos Argitis The Bank of Canada resisted pressure from investors by declining to signal it will soon follow global peers in easing monetary policy. At a decision Wednesday, policy makers left interest rates unchanged for a seventh straight meeting and said stronger...
DH Vancouver Staff Aug 28 2019 The new federal First-Time Home Buyer Incentive (FTHBI) will officially come into effect as of September 2 this year. Designed to alleviate mortgage costs for first-time home buyers, the FTHBI will provide shared equity loans of 5% toward the down payment of...