Canada’s prime rate: Latest updates, trends and historical data
Dec 11, 2024 · The prime rate is the interest rate that commercial banks charge their most creditworthy clients—typically large corporations. In Canada, the prime rate is closely tied to the Bank of Canada’s overnight lending rate, which is the interest rate at which banks borrow and lend between each other.
Mortgage Rates & Mortgage Broker News in Canada - Home Page
Bank of Canada rate hikes in 2026? National Bank thinks so. 60% of Canadian mortgage renewals to face higher rates by 2026: BoC; Canada’s Secondary Suite Loan Program expands to $80,000 loans with 2% over 15 years
Mortgage Rates & Mortgage Broker News in Canada - Down …
Mortgage default insurance. If your down payment is less than 20% of the home’s purchase price, you are required to purchase mortgage default insurance, available from either CMHC, Sagen or Canada Guaranty, to protect the lender in case you default on the loan.
Housing and interest rate forecasts for 2025 - Mortgage Rates ...
Dec 30, 2024 · The Canadian Real Estate Association (CREA) 2025 home sales forecast: 499,816 (+6.6% year-over-year) “…the profile for sales from one of a gradual improvement has changed to one whereby the market is forecast to remain in more of a holding pattern until next spring, when a sharper rebound is expected.
What the Bank of Canada’s 50-bps rate cut means for borrowers
Oct 23, 2024 · With the Bank of Canada announcing yet another interest rate cut—a half-point reduction this morning—its key policy rate has now fallen to a two-year low of 3.75%. This is the fourth rate cut this year, continuing to lower interest costs for …
Two big banks predict 225 bps worth of BoC rate cuts over the …
Oct 21, 2024 · Markets believe the central bank is likely to deliver a “supersized” rate cut this week due to cooling inflation and a weakening job market. If that plays out, both RBC and National Bank, along with Caisse Desjardins, are forecasting another 175 basis points (1.75 percentage points) of rate relief by the end of 2025. This would suggest a prime lending rate of 4.20% at most major lenders, a ...
How to Become a Mortgage Professional in Canada
Dec 7, 2024 · Becoming a mortgage professional in Canada is an exciting and rewarding career path. Whether you are looking to help people purchase their first homes or assist with refinancing, there is significant demand for skilled professionals who understand the ins and outs of the mortgage industry.
Mortgage Rates & Mortgage Broker News in Canada - Bond yields
Nov 21, 2024 · When it comes to understanding fixed mortgage rates, bond yields are a key factor. In this guide, we’ll explain what bond yields are, how they work, and their direct connection to the pricing of Canadian fixed mortgage rates.
Canada’s Secondary Suite Loan Program expands to $80,000 loans …
Dec 10, 2024 · Starting in early 2025, the Canada Secondary Suite Loan Program will double the loan limit from $40,000 to $80,000, making it easier for homeowners to finance the creation of rental units on their property, such as basement suites or laneway homes.
MCAP to Acquire Paradigm Quest and Merix
Jul 14, 2021 · MCAP announced today that it’s buying Paradigm Quest (PQ), giving it PQ’s in-house brands, Merix Financial and Lendwise — and reportedly, origination contracts with dozens of other private label brands.. The move makes MCAP a juggernaut in …