Bank of Canada reduced the overnight rate by 0.25%, bringing it from 2.75% to 2.50%. Which for most lenders will bring the Prime rate from 4.95% to 4.70% Now remember, this directly impacts those with a Variable/Adjustable Rate Mortgage. This does not directly impact Fixed Rates. For Example: If you have a Home Equity Line of Credit, the rate is typically Prime + .50%. Keeping your rate at 5.45%. Where if you have a Variable/Adjustable Rate Mortgage, it typically ranges from

Bank of Canada chose not to change rates today. The overnight rate remains at 2.75% with the Prime Rate sitting at 4.95%. Now remember,...

Bank of Canada chose not to change rates today. The overnight rate remains at 2.75% with the Prime Rate sitting at 4.95%. Now remember, this directly impacts those with a Variable/Adjustable Rate Mortgage. This does not directly impact Fixed Rates. For Example: If you have a Home Equity Line of Credit, the rate is typically Prime + .50%. Keeping your rate at 5.45%. Where if you have a Variable/Adjustable Rate Mortgage, it typically ranges from Prime - .50% to -1.10% keeping

Bank of Canada chose not to change rates today. The overnight rate remains at 2.75% with the Prime Rate sitting at 4.95%. Now remember,...

The Smith Maneuver — Explained in Plain English The Smith Maneuver is a legal tax strategy in Canada that helps homeowners turn their...

Bank of Canada reduced the overnight rate by 0.25%, bringing it from 3.00% to 2.75%. Which for most lenders will bring the Prime rate...

Bank of Canada reduced the overnight rate by 0.25%, bringing it from 3.25% to 3.00%. Which for most lenders will bring the Prime rate...

The BC Home Flipping Tax , introduced under the Residential Property (Short-Term Holding) Profit Tax Act , came into effect on January 1,...