COVID-19: Understanding Mortgage Payment Deferral

General Elza Stoyanova 15 Apr

The COVID-19 or coronavirus crisis has left many homeowners in Canada without a job or with reduced hours and wondering how to pay their mortgage. Homeowners facing financial stress may be eligible for a mortgage payment deferral up to 6 months to help ease the financial burden. The COVID-19 Mortgage Payment Deferral program will be […]

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Bank of Canada maintains overnight rate.

Latest News Elza Stoyanova 15 Apr

The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers it’s effective lower bound. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank also announced new measures to provide additional support to Canada’s financial system. The necessary efforts to […]

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Why are Mortgage Rates Rising?

Latest News Elza Stoyanova 31 Mar

Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates by the full 150 basis points (bps). But, since the second Bank of Canada rate cut on March […]

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