Inflation Dips – Pressure to Raise Prime Rate Decreases!

Canada’s annual inflation rate dipped to 1.9% in March from 2.6% in February, largely due to slower year-over-year increases in prices for food and energy, Statistics Canada said on Friday.  The Bank of Canada uses interest rates to reach its target inflation rate of 2%.  With the current inflation rate coming in at below target, […]

Bank of Canada Maintains Prime , Hints at Future Increases

The Bank of Canada yesterday maintained it’s key overnight lending rate at 1%, holding the Prime rate on which Variable rate mortgages are based at 3%. In their press release, they listed several factors being considered in the decision…. “Overall, economic momentum in Canada is slightly firmer than the Bank had expected in January.” “…The […]

The Better “Low Rate” Solution

Yesterday we mentioned some of the pitfalls associated with No Frill’s products. Here are are some real, and Full featured solutions for you to consider: 3 Years, 15/15 Pre-Payment Terms, 2.79% 4 Years, 15/15 Pre-Payment Terms, 2.99% 5 Years, 15/15 Pre-Payment Terms, 3.19% 10 Years, 20/20 Pre-Payment Terms, 3.89% Contact Us for details!

No Frills Mortgages

As you have probably heard by now, BMO made a big splash in the news last week by offering a 5-year “Low-Rate” Mortgage at  2.99 per cent. While we applaud lower interest rates (something that should have happened months ago based on the traditional relationship between bond yields and fixed mortgage rates), we do urge […]