BoC Increases Its Key Overnight Lending Rate by 0.25%

The Bank of Canada has increased its key overnight lending rate by 0.25%, signaling a possible end to a period of record low interest rates in Canada. While no concrete evidence to suggest with certainty that the BoC will continue to raise interest rates each quarter, it appears that the Central Bank is confident in the Canadian economy's ability to absorb these increases --which is great news for everyone. While higher interest rates may not be welcome, the accompanying increase in economic activity and job creation are great signs of things to come. Were the BoC afraid that the economy was still too weak to carry an increase, it is likely that we would not have seen this move.

For more information regarding mortgage interest rates, or to get pre-qualified, please call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com.

BoC Drops Mortgage Qualifying Rate Once More

Just 2 weeks after its last drop, the Bank of Canada has reduced its mortgage qualification rate once again by 0.10%. The mortgage qualification rate has now been reduced to 5.79% after reaching a high of 6.25% earlier this year.

For more information regarding mortgage rates and qualification, call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or visit www.albertamortgagecentre.com.

BoC drops mortgage qualifying rate again

This week, the Bank of Canada lowered its Bank of Canada Posted Interest Rate from 5.99% to 5.89%. This move can be interpreted as a signal of the Bank's lowering its forecast for rate hikes in the coming months or even years.

For more information regarding mortgages, mortgage interest rates or to get pre-qualified, call one of the qualified mortgage professionals at Alberta Mortgage at 780-479-2222 or Apply Online.