by Katy Livingstone | Aug 25, 2020 | Uncategorized |
Stress Test Update. Effective August 2020, the benchmark rate or the stress test rate has been dropped to 4.79%. In May of this year, the benchmark rate used to qualify mortgage was 4.94%. Prior to the decrease in May, the Stress Test rate was 5.04% The drop in the...
by Katy Livingstone | Apr 9, 2020 | Uncategorized |
Why are mortgage interest rates rising when the Bank of Canada continues to drop the Prime Lending Rate? In January 2020 the Bank of Canada prime rate was 3.95%, since then we have seen multiple drops and the prime lending rate is now 2.45%. Normally, we would see...
by Jamie Cunningham | Oct 6, 2014 | Uncategorized |
Thank you for your continued support Prince George. We are honored that you chose us as best Mortgage Broker company for the second year in a row! ~ Michelle &...
by John Miguel | Mar 6, 2013 | Interest Rate, Mortgage, Mortgage Broker, PG Mortgage Broker, prince george, Uncategorized |
As you have seen in the media, BMO is offering a 5 year fixed rate of 2.99%. This mortgage is a no-frills mortgage product which means they have taken away all of the flexibility of the mortgage to offer you this low rate. This mortgage only allows you 10% pre-payment...
by John Miguel | Feb 15, 2013 | Uncategorized |
Most people sign up for their initial mortgage, pay their payment as required and forget about the details until renewal time. A mortgage is the biggest debt you’re most likely going to have and it should be something you review at least once a year just to make sure...
by John Miguel | Feb 7, 2013 | Uncategorized |
A common question mortgage brokers receive is what is the difference between fixed and variable rates? Deciding between the two options when getting your mortgage can be a hard decision. A fixed rate mortgage will guarantee you a locked in rate for whatever term you...
