On Wednesday, October 25th, the Bank of Canada made their latest scheduled rate announcement, that they were holding the overnight rate at 5%. This translates to a hold in the Prime lending rate with lenders, which is currently at 7.20% For anyone with a variable rate mortgage, line of credit or credit card date this […]
Mortgage Rate Update for June 2023 – The Bank of Canada ended its four-month rate increase pause on Wednesday, raising the overnight lending rate by 25 basis points (bp), or .25% to a 20-year high of 4.75%. In fact, you would have to go back to 2000 to experience rates that high! This brought an […]
What a change a few months can make! With two years of record-low rates and a blistering hot real estate market, many thought the low rates and rising prices, would go on forever. The low rates were welcomed by all, with 5yr fixed rates under 2%. The rising prices were welcomed by current homeowners and […]
It’s that time of year again where pumpkin spiced lattes, wool sweaters, and the leaves changing colors is what makes fall…fall! Now traditionally speaking, fall is not the most popular time to purchase a home, which is why now would be an excellent time to become a homeowner and obtain a Hamilton mortgage. Buying now […]
Goodbye Summer and hello Fall! The fall season is a great time to become a homeowner because you do not have to worry about all the competition associated with a purchasing a house in the peak spring season. This means you have time to look at different properties and not feel pressured to make […]