Rate Cut? What Does This Mean for Me?

Rate Cut? What Does This Mean for Me?

The Bank of Canada has shocked the market by cutting the overnight rate by 25bps to 0.75%. This puts the prime lending rate in Canada down to 2.75%. The BofC commented the rate cut was due to the economic threat of the drop in oil prices. What this means to you: For...
Breaking: CMHC Premium Increase

Breaking: CMHC Premium Increase

Effective May 1, 2014 CMHC has increased their insurance premiums across the board. This is the first increase since the late ’90s. The increases are as follows: – up to and including 95% will go from 2.75% to 3.15% – up to and including 90% will go...