Mark Delleman Mortgage Team
300 - 17650 66A Ave V3S 4S4 Surrey, BC, Canada
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Locality: Surrey, British Columbia
Phone: +1 604-889-0050
Address: 300 - 17650 66A Ave V3S 4S4 Surrey, BC, Canada
Website: www.mortgagesthatdontsuck.com
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Bank of Canada lowers their target rate by half a percent. Let’s see if the banks follow.
Prime rate holding steady for now... Maybe a drop next time?
Look out for this!
The Bank of Canada just announced an increase to their target for the overnight rate to 1.5%. This will result in a higher prime rate by .25%. If you have questions about what this means for you and your mortgage please contact me anytime!
No rise for variable rate holders.
"As the Bank of Canada pointed out last week, household credit growth has slowed in recent months led by a slowdown in residential mortgage credit. Rising interest rates are a severe headwind for consumer spending, and tighter monetary policy could derail an already fragile economy. So don't expect a Bank of Canada rate hike anytime soon." https://dominionlending.ca//canadas-housing-market-contin/
If you are variable rate hold holder and are concerned about your rate moving please give me a call or email and we can talk about it. Thanks - Mark
Prime going up .25%. Call me if you have questions or are thinking about locking in!!
New rules come into affect Jan 1, 2018.
As expected banking regulators are changing the rules AGAIN! This change will dramatically affect everyone's borrowing power regardless of credit or how much equity you have in your home. Would be glad to answer any questions or let you know how this will personally affect you!
The Bank of Canada decided to raise their overnight rate by 1/4% today. If you are concerned with your variable mortgage please get in touch!
The BoC have raised their overnight rate by .25%. This will affect all variable rate, line of credit or any other lending done based on prime. We have not heard from the big 5 banks on how they will pass this increase to the consumer but I will post as soon as I know. In the meantime if you are concerned please get in touch with me before locking in your variable mortgage!!!
Have questions about changes the BC government has made in the budget? Give me a call!