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Posted by: Jennifer Price
As you’ve likely heard, as widely predicted the Bank of Canada (BoC) has increased the overnight rate by another larger than usual 0.50%, bringing it from 1% to 1.5%. As such, most lender’s Prime Rates will increase from 3.2% to 3.7% within the next month. Remember, in March 2020 just before the pandemic began, Prime […]
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As you’ve most likely heard by now, the Bank of Canada announced an increase to the overnight rate of 0.50%, marking the first time it has increased the rate by more than 0.25% since 2000. At this time, the BoC is primarily interested in combating inflation, which continues to be at record highs – a […]
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As we continue to navigate these unprecedented times, I wanted to be sure to provide some information on the heels of today’s Bank of Canada announcement, confirming that the benchmark rate was increased by 0.25% to 0.50%, and look at what that means for you. This is the first increase since 2018 and with Inflation at […]
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We have recently been bombarded with headlines such as “Bank Of Canada Will Raise Rates 500% This Year, To Start Within Weeks.” This is designed to ignite fear and scare people into locking in to higher Fixed rate mortgages. Such headlines claim that there will be a minimum of 5 rate hikes of 0.25% in […]
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How to Save with a Variable Mortgage When it comes to mortgages, the age-old question remains: “Should I go with a variable or fixed-rate?”. To make an informed decision, it is important to look at the type of buyer and the historical trends. When it comes to variable versus fixed-rate, it is important to understand […]
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GIVEAWAY WIN WIN! WIN A $100 Gift Card!! Let’s be sure to support our local businesses during these trying times. Here is a list of restaurants in Fergus-Elora currently offering take-out during the COVID-19 restrictions. I created this list for the community of Centre Wellington as an easily accessible resource. Be well, eat well and […]
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