Danny Bell
Mortgage Broker - M13001996
Tel: 905-426-4200 | Cell: 289-200-9061 | Fax: 905-426-4201
Good news!! As was anticipated, the Bank of Canada lowered its benchmark interest rate by 0.25% (25 bps), bringing it to 4.75%.
What Does This Mean for You?
If you have a variable rate mortgage or line of credit, this reduction directly affects your interest rate. Your rate will decrease by 0.25%, leading to savings of approximately $15 per month for every $100,000 borrowed.
Please note that fixed mortgage rates are not directly influenced by changes in the Bank of Canada rate.
If you have any questions or need further clarification on how this might affect your specific situation, feel free to reach out.
Whether you are first-time buyer or an experienced buyer with excellent credit, The Mortgage Centre has access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!
Learn MoreThrough training and certification, we have a good understanding of available products, features, and rates. We are here to keep your mortgage moving forward with our Mortgage Market technology, we have electronic access to various major lenders in Canada, so you’re not tied to one lender or one type of mortgage.
Learn MoreWe understand that mortgages can be confusing and intimidating. To help demystify the process, The Mortgage Centre provides a glossary and a variety of free calculators to assist you in researching, and planning your mortgage.
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