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Concerned about today’s BoC rate increase?

The Bank of Canada delivered another supersized hike on Wednesday, raising the policy interest rate by 75 basis points to 3.25 per cent, the highest rate since the global financial crisis. The Bank also signalled it was continuing its quantitative tightening policy and more rate hikes would follow in an

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Bank of Canada Raises Rates by 1%

The Bank of Canada on Wednesday increased its target for the overnight rate to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.5%. Quantitative tightening (QT) continues with no end in sight. In its statement, the BoC said, “With the economy clearly in excess demand, inflation

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How to Find the Best Milton Mortgage Broker

Mortgage brokers are an interesting bunch. In theory, they complete some of the most client-facing roles in the financial services industry. It’s also a role in which they get to interact with the customer in some of the most important times of their lives. Yet, most people never think of

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Fixed vs Variable? Here’s my take for today’s market

Coaching variable-rate mortgage clients is what I have done for over a decade. I’m an advocate of the floating-rate product and its benefits, and over the years, hundreds of my clients have saved tens of thousands of dollars in interest costs and cut years off their amortization—the length of time

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Mortgage Brokering: What It Actually Means

Did you know that just over 6 million Canadians currently have a mortgage? Yet the process of getting one is not easy and can be confusing for many. So do you know how a mortgage broker can help? When looking for a mortgage in Milton, the use of one could

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Today’s Bank of Canada Rate Announcement

Just a quick note on today’s Bank of Canada Announcement.  The Bank of Canada increased the key rate from 0.25% to 0.5%. Some lenders are starting to change their prime rates by 0.25%, to 2.7%. We will monitor the amount of the increase to Prime and how it will impact mortgage

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When is The Best Life Stage to Buy a House?

Those living in Canada under the age of 35 are less likely to own property than those above the age of 35. If you’re under 35 years old and living in Canada, does that mean you shouldn’t invest in a home? It’s confusing to know exactly when to buy a home

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All smoke and no fire

The Bank of Canada kept its trendsetting interest rate at rock-bottom levels on Wednesday, holding off on planned increases aimed at controlling surging inflation.The central bank’s overnight rate remains at 0.25%, a rate it adopted in a drastic drop in the early days of the COVID-19 pandemic.The move is in

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