Jacqui Edwards - Mortgage Broker

02/27/2024

The "best rate" for some may not be available to others for a number of reasons. What are the best rates today? Find out here: https://www.jacquiedwards.ca/post/why-there-is-no-straight-answer-to-best-rate

01/20/2023

Happy New Year! Please have a read and let me know if any of these thoughts relate to your situation. Here to work with you!

It’s an interesting start to 2023!! I hope you are keeping well and looking forward to a healthy and prosperous year. I know many of us are in a “wait and see” mode, and that can seem safe and comfortable for now, but there may be things looming in the background that you may want to consider ...

11/03/2022

Let's discuss some positive options during this uncertain market!

In the real estate industry, as in most markets, what goes up, must come down. We have watched house prices move overnight into territory we haven’t seen in a decade, and then just as quickly, slip into what seems like a hibernation period! How would we ever plan ahead with these movements? Withou...

07/13/2022

After slashing its rate to record lows at the start of the pandemic, the bank has now raised its rate four times since March as part of an aggressive campaign to fight inflation, which has risen to its highest level in 40 years. A full percentage point...this will impact buyers and those renewing in the coming months. Please review your mortgage with a specialist to be prepared.

The Bank of Canada raised its benchmark interest rate by the largest amount in more than 20 years on Wednesday, sharply increasing the cost of borrowing in an attempt to rein in runaway inflation.

06/01/2022

The Bank Increases Prime Rate: What Does It Mean For You?

Update: On June 1, Bank of Canada made its third increase of the year by .50%. The overnight lending rate now sits at 1.5%.

What does this increase mean for you…right now…today?

Prime rate will go up, and almost immediately. The Big 5 banks will start announcing their prime rate changes as early as today. Will it also go up .5%? Most likely. Sometimes the banks don’t follow the change of the overnight rate down to the decimal, but that’s usually only the case when the rate is going down, not up. Anyone surprised?

Your variable rate mortgage is about to go up. If you have a floating rate type mortgage that fluctuates with prime, your payment is about to rise. Relax, it’s not too bad. A rise of .5% on a $350,000 mortgage for example is $84 a month. The same logic will apply if you have a home equity line of credit (HELOC).

The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%.

04/13/2022

BREAKING NEWS!!

Bank of Canada Raises Key Interest Rate to 1.00%

The Bank of Canada has raised its overnight target rate by a half-point, bringing it to 1.00%.

This is the Bank’s first 50-bps rate hike since 2000 and was fully expected by markets.

In its statement accompanying the decision, the Bank said, “With the economy moving into excess demand and inflation persisting well above target, the Governing Council judges that interest rates will need to rise further.”

The Bank also said CPI inflation is now expected to average “almost 6% in the first half of 2022 and remain well above the control range throughout this year.”

This is the BoC’s second rate hike this year, following a quarter-point hike in March. Banks and other financial institutions are expected to raise their prime rate in the coming days, which will increase rates for variable-rate mortgage holders.

****call to discuss your concerns should you have a variable rate mortgage or HELOC.

Read more here:

The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%.

03/02/2022

Call to discuss your Variable Rate Mortgage. Prime rate has increased, which will affect any adjustable/variable rates. First movement in over 2 years!!

The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %.

02/04/2022

Hot market! Get your pre approval in place so that you are ready to jump in!!

01/26/2022

https://financialpost.com/news/economy/bank-of-canada-interest-rate-decision-0126-22

Check here for the latest news and analysis as the Bank of Canada and the U.S. Federal Reserve announce decisions today

01/11/2022

Rates on the rise. Talk to me about rate protection for 120 days!

Consider wiping out as much of your variable-rate debt as you can

01/10/2022

https://mailchi.mp/ba635985bb0f/happy-2022

Why you ask? Your financial position and future plans may be changing, let's make sure your largest liability & asset (your home) is on track.