So… You want to get a Variable Rate Mortgage. Be careful, some of the offers out there right now will end up costing you a lot more than you think. Rates on Variable Rate Mortgages are currently ranging from 2.4% (0.60% below Prime) to 2.7% (0.30% below Prime). The difference between the lowest rate available… Continue reading Not All Variable Rates Are Created Equal.
The following is a summary of some important points we have drawn from the above article which was produced by the Bank of Canada. It is important to note that this article was produced with the intent of identifying ways that Bank of Canada’s monetary policy would have a greater impact on Canadians. In short,… Continue reading Competition in the Canadian Mortgage industry