The Bank of Canada announced today that it is holding the overnight rate steady, again citing escalating geopolitical and trade conflict risks, which are undermining the global expansion. The Bank also noted that in Canada, the response to the strict qualifying guidelines that went into effect January 1 slowed first quarter growth. The next rate-setting day is Wednesday, May 30.
Get in touch if you have a variable-rate mortgage and have questions about your mortgage strategy. Or perhaps you need a new mortgage, are renewing, or are looking to refinance for debt consolidation, renovations or other large expenditures.
Given the new rules and very complex mortgage market, it’s important to work with an experienced professional who knows the right questions to ask to assess your situation and provide the direction you need to achieve your homeownership goals and save money over the long term. Good advice early saves time and stress!
We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.
Insured mortgage rates, subject to change. Conventional and refinance rates may be higher.
Some rates may not be available in all provinces. Consult a local Invis professional for more information. OAC. E&EO
Crunch the numbers and explore different scenarios with our website calculators.
Shannon Mayhew, MBI