The Bank of Canada’s Target Rate up .25% July 12th marks the Bank of Canada’s first announcement of a hike in the policy interest rate which is the target for the overnight lending rate. This is the first increase to the policy interest rate in 7 years. The overnight rate influences consumer loans and mortgages
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If you have watched the news in the last few days/weeks you may have seen that fixed mortgage rates have been on the rise. Also, there is news that the Bank of Canada might increase the benchmark rate. The sky isn’t falling! Rates have been historically low for many years now and most economists anticipated
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It seems that the goal of owning a piece of property in British Columbia is becoming more and more unattainable each time we read a news story. The headlines emphasize the growing number of barriers that are preventing individuals from investing in the real estate market, including the lack of affordable new housing, competition from
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