Ryan

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September 7 2022 Bank of Canada .75% Rate Increase

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.

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July 13 2022 Bank of Canada 1% Rate Increase

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.

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Bank Of Canada Rate Update - March 2 2022

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.

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CMHC Changes the Game.... Again!

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

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Check this Out! Get your free credit report from Equifax!

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!

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Bank of Canada lowers overnight rate target AGAIN, to 1/4% (.25%)

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...

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Bank of Canada lowers overnight rate target to ¾ percent

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...

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Bank of Canada lowers overnight rate target to 1 ¼ percent

Bank of Canada lowers overnight rate target to 1 ¼ percent

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7 Things to Expect During an Appraisal Visit

7 things you can expect when having your home appraised. A great primer for clients who are about to have an appraiser visit your home. Content provided by Adlaw Appraisals.

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Mortgage Prepayment Penalties

All mortgages are NOT created equal when it comes to penalty calculations. Here's what you need to know!

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