If you want into the Canadian real estate market with the lowest possible entry-level lending terms and conditions available then I believe your time could be running out. In October 2008 the federal government bailed out the Canadian banks with a $25-billion takeover of bank-held mortgages to ease a growing credit crunch, and Finance Minister, … Read more
As you may well have seen, The Bank of Canada has recently said that they do not plan to increase the Bank of Canada Rate until the end of the second quarter of 2010. As such, Prime is expected to remains at 2.25%; great news for those currently borrowing at floating rates. Prior to September 08 variable rate mortgage at 0.90% … Read more
Following the latest Bank of Canada’s overnight rate cut from 1.50% to 1.00%, Canada’s banks have cut their prime lending rates by a half-point to a record low of three per cent, and reduced some fixed and floating-rate mortgages. The answer home buyers’ will be seeking surrounding this all-time low interest rate, will be how … Read more