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BOC Interest Rate Staying at 1% For Now – Good News for Variable-Rate Mortgage Holders?

Variable-rate mortgage holders have a reprieve — the BOC interest rate is staying steady at 1%, despite rumours another increase was looming. The Bank of Canada announced October 25, 2017 that BOC interest rates would not be increasing further right now. Inflation has increased, but the BOC said it hasn’t gone up as much as predicted. A slowing housing market Continue Reading

Ontario Home Sales Volumes Down in September for the First Time in Five Years

This past September, Ontario’s residential sales volumes hit a five-year low with a 33.5% drop in activity and broke the five-year trend of year-over-year growth in sales for the month. Typical signs of a housing slowdown can include declining sales and hesitant buyers. Teranet Market Insights has your up-to-date Canadian housing information. See the full report: http://www.teranet.ca/commercial-solutions-blog/teranet-market-insights-report-sept-2017 or call Teranet today Continue Reading

A Mortgage Broker Career: How to Succeed as a Broker

Wondering if a mortgage broker career is the right career for you? Successful brokers earn a good living and often work independently as their own boss – but this takes work! The most successful brokers are hard-working, highly specialized professionals dedicated to getting homebuyers the best rate possible using the best tools and resources available to work in the client’s Continue Reading