Bank of Canada raises key interest rate for eighth time, to 4.5 per cent. What you need to know

General Michael Distefano 25 Jan

By Josh Rubin Business Reporter Wed., Jan. 25, 2023 Central bank signals its rate-hiking campaign could finally be over, while it “assesses the impact of the cumulative interest rate increases.” The interest rate hikes are over — probably. The Bank of Canada raised its key overnight lending rate for the eighth straight time Wednesday morning but […]

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What is mortgage refinance?

General Michael Distefano 28 Apr

Mortgage Refinance Learn what it means to refinance your mortgage loan and how this could help you reach your goals. Refinancing your mortgage means renegotiating your existing mortgage loan agreement. You might do this to consolidate debts, or you could use the equity in your property to increase your mortgage loan amount for large expenses. […]

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Bank of Canada Warns Rates May Climb Even Higher Than “Neutral”

Latest News Michael Distefano 26 Apr

  High inflation has become such a risk to the economy, the central bank will do anything to slow it. That might include raising interest rates higher than already aggressive forecasts have called. This was the message from the Bank of Canada (BoC) at the Standing Committee on Finance today. The central bank Governor made […]

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Dominion Lending Centres launches first responder program

General Michael Distefano 24 Jun

By Paul Lucas 24 Jun 2021 Mortgage Broker News Dominion Lending Centres (DLC) launches a new first responder mortgage program. Coming into effect yesterday, June 23, the program is available to first responders across Canada with the corporation claiming it offers competitive rates, alongside cashback incentives. “The DLC Group of Companies are incredibly grateful to all of […]

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General Michael Distefano 12 Mar

RENEWING VS. REFINANCING A MORTGAGE What’s the difference between refinancing and renewing your mortgage? The terms are often used interchangeably, but they are different processes: Renewing a mortgage applies to the current mortgage loan. You will be looking for a new term and interest rate based on the amount remaining in your mortgage at the […]

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CMHC Makes It More Difficult To Get An Insured Mortgage

General Michael Distefano 5 Jun

Canadian Mortgage and Housing Corporation (CMHC) is tightening the criteria to get a mortgage with less than a 20% down payment. Any potential home buyer with less than a 20% down payment must purchase default insurance on their loan and have a minimum down payment of 5%. CMHC is a federal Crown Corporation that provides […]

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