Another increase today from the Bank of Canada, BUUUUUT many signals are now telling us this is likely the last increase for some time.

On October 26, 2022 the Bank of Canada announced another 0.5% increase to the overnight rate, and by extension prime rate. This will impact variable rate mortgages, lines of credit, and plenty of other types of lending. Ryan discusses the short term implications, and what's anticipated to follow in the coming months.

A discussion of the latest in a series of rate increases by the BOC. Some things to consider, some reasons (NOT) to panic, and some guidance for those in a variable rate mortgage or HELOC currently.

The biggest rate increase from Bank of Canada in more than 20 years. Is this the time to panic? Probably not, but Ryan weighs in with some considerations regarding your mortgage payments, total cost of borrowing, and why he thinks variable rate is still a great option for many borrowers.

Today we're anticipating the Bank of Canada to increase its policy interest rate, and I expect we'll see a 0.25% increase. This will translate into a corresponding increase in prime rate at most lenders within the following days.

CMHC Changes Underwriting Guidelines. Lower debt servicing could mean a harder time qualifying, along with higher minimum credit scores. Sheesh!

In response to Covid-19, Equifax has decided to offer free access to your Equifax credit report. Learn how to access your free report here!

Hey everyone!  Since the start of the Covid-19 crisis, this has been an absolutely crazy year for all of us, including everyone involved in the financial sector. Canada's central bank has continued to drop it's policy rate as the crisis has evolved, in hopes of mitigating some of the economic destruction this crisis and lockdown has caused. They've now reached an 'overnight rate' of just 0.25%. This is the rate that influences the 'Prime Rate' that banks offer their customers for...

Well that was unexpected... Here we go again!  Here's the highlights: For everyone wondering how this will impact current mortgage rates, here's the highlights: This is ANOTHER 0 .5% drop to the bank of Canada's 'overnight rate'. The 'overnight rate' is a rate that is used to influence bank's/lender's 'Prime Rate', which is used to calculate variable mortgage rates. Because the bank's 'Prime Rate(s)' will likely drop AGAIN (read: should drop), we will see that...

Bank of Canada lowers overnight rate target to 1 ¼ percent