Matthew Olberg
2-4440 Chatterton Way V8X 5J2 Victoria, BC, Canada

There's been a delay in the release of the new stress test due to the coronavirus

The Bank of Canada is cutting its key interest rate target by half a percentage point, dropping it to 1.25 per cent in response to the economic shock from the novel coronavirus outbreak Click on the link to read more about it and stay tuned to find out how this rate cut will effect interest rates shorturl.at/krNY4

Now that the dust has settled, here’s a more in-depth look at the implications, as well as some industry reaction. But first, a quick recap of what’s changing come April 6, 2020: Current stress test rate for insured mortgages (typically those with less than 20% equity): 5.19%... Based on the Big 6 banks’ posted 5-year fixed rates. New stress test rate (if it were in effect today): ~4.89% Based on a rate equal to the weekly median 5-year fixed insured mortgage rate plus 2% https://www.canadianmortgagetrends.com//questions-new-str/

Essential Tips for First-Time Home Buyers in Victoria, BC In the excitement of buying your first home, it can be tempting to sign up for the first mortgage offer you're approved for. Being too hasty is a serious mistake which can cause difficulties for a long time to come.

TD lowers their posted rate from 5.34% to 4.99% - is this a sign that the other big banks are soon to follow?