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Bank of Canada Cuts Interest Rates: What It Means for Real Estate
On October 23, 2024, the Bank of Canada made a big move, cutting its key interest rate by 0.5%, which dropped the overnight rate to 3.75%. Now, the Bank Rate sits at 4%, and the deposit rate is aligned with the overnight rate too. This decision is all about giving the...
New Mortgage Rules
The Deputy Prime Minister and Minister of Finance, Chrystia Freeland, announced significant changes to mortgage rules. Many of these changes reflect MPC’s persistent advocacy on behalf of our industry and Canadian homebuyers. Among the new measures are several key...
Canadian Budget 2024 Highlights
Budget 2024 has put a fresh spin on the Liberal government’s plan to make life more affordable for Canadians with lower to moderate incomes. They've set aside a whopping $53 billion to spend over the next five years ($57 billion if you count what they started spending...
Cash Back MasterCard – Earn 5X Reward Points on Home Improvement Purchases
With our new Cash Back MasterCard it doesn't matter if you're buying groceries or gas, dining out with friends, getting a haircut or seeing the...
Mortgage Relief: How to Defer Mortgage Payments?
You can get mortgage relief by asking your bank to defer your payments. Because of the COVID-19 pandemic, you, like many Canadians, may be suffering from loss of wages, salary or business, if you're an owner of a small business. Canadian banks are prepared to help you...
Your Credit Score and How Is It Calculated
Every time you apply for a home mortgage, a car purchase and nearly all other types of loans, lenders will use your credit score to determine if you qualify. Creditors need to know how much of a risk you are—in other words, how likely you are to repay the money they...
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