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My Mortgage Blog — Latest Posts
The Health Crisis and Your Mortgage
A lot has changed in the last few weeks, much of it unsettling. The current COVID-19 health crisis has created some level of uncertainty among the population and a lot of unknowns. So, here’s a...
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Recent changes may be good news for homebuyers
We’ve had back-to-back changes recently in the mortgage world – one direct, one indirect. The benchmark rate used to qualify will change downwards starting April 6, 2020, and the Bank of Canada...
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The Bank of Canada lowered its target for the overnight rate by 50 basis points to 1¼ percent. The Bank Rate is correspondingly 1½ percent and the deposit rate is 1 percent. While Canada’s economy...
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Mortgage Stress Test Changes Making it Easier to Qualify
Just as the Toronto housing market is gaining steam, the federal government is adjusting the stress-test rate for insured mortgages. The move is expected to make it easier for some people to...
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