This morning the Bank of Canada announced an increase to their policy interest rate by 50 basis points from 3.25% to 3.75% as they continue their quantitative tightening. This increase in the Bank of Canada rate will mean a change to the Prime Lending Rate. Banks and other financial institutions will raise their prime rate […]

The term “rate hold” may be something you are familiar with if you have worked with me in the past. If not, it is a term that all prospective buyers should know! A rate hold is offered by the majority of lenders to clients who are purchasing a new home and need a mortgage. The […]