As expected, the Bank of Canada increased its overnight rate on Wednesday to 1.75%. Canadian banks are responding by announcing increases to their Prime Lending Rate. The Bank Prime is now at 3.95%. For those in a Variable or Adjustable Rate Mortgage, your lender will be notifying you of when their increase will take effect.
Articles for First Time Homebuyers
Picture this: You’ve finally been able to put away enough for a down-payment on your dream home. It’s taken you five years of diligent saving, but you did it! You have also been diligently working on improving your credit score and paying off debts and are at a place of financial stability.