by Stephanie Procter | Oct 25, 2023 | Bank of Canada
The Bank carries out monetary policy by influencing short-term interest rates to stimulate or slow the economy down. It does this by adjusting the target for the overnight rate on eight fixed dates each year. Your variable rate mortgage, line of credit and/or student... 
by Stephanie Procter | Oct 2, 2023 | Bank of Canada, Mortgage Rate
The Bank carries out monetary policy by influencing short-term interest rates to stimulate or slow the economy down. It does this by adjusting the target for the overnight rate on eight fixed dates each year. SO WHAT? WHY SHOULD YOU CARE ABOUT THIS ANNOUNCEMENT? Well,... 
by Stephanie Procter | Oct 2, 2023 | Bank of Canada
As we’ve previously discussed in more detail, the cost of living has risen dramatically due to a magnitude of factors. We can continue to discuss the cost of living, but I think it’s important we just get to facts that can help you right now. I know your... 
by Stephanie Procter | Jun 7, 2023 | Bank of Canada
Your variable rate mortgage, line of credit and/or student loans are all based on the Prime Rate. This is your personal update from Mortgage Broker Claire Drage and our team at The Windrose Group on the latest Bank of Canada announcement. As of 10:00 AM EST on June 7,... 
by stephanie@thewindrosegroup.ca | Sep 17, 2020 | Bank of Canada, Finance, First-Time Homebuyer, Investment, Loan Payment, Mortgage, Private Lending
COVID-19’s impact on businesses, communities and individuals has already been drastic and we are still feeling the effects on a daily basis. During times of market uncertainty such as The Great Depression & Financial Crisis of 2007/8, people often search for... 
by stephanie@thewindrosegroup.ca | Nov 19, 2019 | Bank of Canada, Canadian Government, Finance, Mortgage Rate
The five-year benchmark qualifying rate is now 4.94%, down from the previous 5.04%.The five-year fixed benchmark qualifying rate has been used to qualify mortgages since the Fall of 2016, when the stress test was implemented. The qualifying rate is used in stress...
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