TORONTO – Mortgage-seeking Canadians caught a bit of a break on July 15, as the Bank of Canada announced it was lowering its overnight rate target by ¼ of a percentage point, to 0.5 per cent. The first of Canada’s major banks to follow suit was TD, who initially reduced their prime rate to 2.75 […]
BoC’s Key Interest Cut Spurs Banks to Lower Prime Rates
EDITOR’S NOTE: This article, originally published on January 27th, was updated on January 28th to reflect new developments in this ongoing story. TORONTO – For Canadian home buyers and mortgage holders, the Bank of Canada’s move to lower the key overnight interest rate on January 21 most likely came as a surprise – and led many […]
Fixed-Rate Mortgages: an Attractive Option for First-Time Home Buyers
GTA REAL ESTATE – For someone planning on entering the Toronto area’s real estate market for the first time, choosing a mortgage can be a tough decision because of the various options available. You can pick and choose your amortization period, the amount you’re willing (or able) to put into your down payment, and – […]