Here is some good news (when we need it most) that the qualifying rate is being reduced making it easier to qualify: Benchmark Qualifying Rate: Current Effective March 23, 2020 Rate Change Benchmark Rate Benchmark Rate 5.19% 5.04% -0.15% When you have questions about home or business financing… trust EasyApproval.ca
So we are seeing the stock market and oil prices taking a beating today, and coming along for the ride are bond markets… with falling mortgage rates to follow. We have already seen a large decline in the last couple of weeks (on mortgage rates) but more are expected – and rather than hide from…
If you’ve been watching the bond market, you’ll already know that the yield has been steadily declining for a couple of months now – and this week with the US and the Bank of Canada making moves (that affect Variable Rate Mortgages) we are in for some cuts in borrowing rates… and if you’re a…
GREAT NEWS for Qualifying Effective July 22, 2019, the Bank of Canada 5-year Benchmark Qualifying Rate is being reduced down to 5.19% (from the current 5.34%) so this is great news for those shopping with less than 20% downpayment! (really, it means that you’ll either qualify for more shopping budget, or you can carry “a little more…