Blog Entries Tagged: Interest Rates
Found 2 blog entries tagged as Interest Rates.

When it comes to buying a home or refinancing a mortgage, interest rates play a crucial role in determining the overall cost of your loan. Understanding how these rates affect your mortgage can help you make informed financial decisions and potentially save you a significant amount of money. Here’s a breakdown of how interest rates impact mortgages and what you should consider in today’s market.

First, you need to be aware of how interest rates affect your mortgage on a base level. The most direct impact of interest rates on your mortgage is on your monthly payments. A lower interest rate generally means lower monthly payments, which can make a mortgage more affordable. Over the life of the loan, a lower interest rate results in less total interest…

238 Views, 0 Comments

Read Full Post


The Bank of Canada has decided to hold interest rates at their current rate for September, though a rate hike in October seems likely. 

Global News writes, "despite the uncertainty around NAFTA, the BoC appeared to take comfort in the fact that business investment and exports are increasingly stepping in as engines of economic growth. Meanwhile, the bank said, the housing market has begun to stabilize after higher interest rates and changes in housing policy like the tighter federal mortgage rules that kicked in on January 1st, 2018.Canadian families are also adjusting to higher interest rates, with the household debt-to-income ratio beginning to edge down, the bank said. At the same time, a healthy job market and higher wages are helping to support…

1008 Views, 0 Comments

Read Full Post