Pargat Nandra - Mortgage Associate

02/03/2025

Here are today's rates
3 years: 4.34
5 years: 4.29
Variable: Pime -0.95
Prime is at 5.20
Terms and conditions apply. Rates are subject to change without notice.
Questions? Please let me know.

01/29/2025

Rate goes down again

01/28/2025

Looking for mortgage?
Here are our rates
3 years: 4.34
5 years: 4.29
Variable: P-0.95
Terms and conditions apply. Please let me know if you would like more details or have any questions.

06/05/2024

05/31/2024

What is negative amortization?

Negative amortization occurs when the principal balance of a loan increases due to a failure to cover the interest due on that loan.

• In a typical loan, the principal balance gradually decreases as the borrower makes regular payments. However, in a negative amortization loan, the opposite happens: the principal balance grows when the borrower fails to make sufficient payments to cover the interest.

Here’s how it works:

• Unpaid Interest: When a borrower makes a payment that doesn’t cover the full interest due (let’s say the interest payment is $500, but the borrower pays only $400), the difference ($100 in this example) is added to the loan’s principal balance.

• Principal Increase: Over time, if the borrower consistently pays less than the full interest amount, the principal balance increases. Essentially, the borrower owes more than they initially borrowed.

If you any questions regarding your mortgage, please feel free to call/text.

Thanks.

Mortgage Brokers

06/07/2023

BREAKING NEWS
Bank of Canada has hiked its benchmark rate by 25 basis points

03/28/2023

There has been changes to foreign buyers ban. Here are the details

Amendments to the Prohibition on the Purchase of Residential Property by Non-Canadians Act’s accompanying Regulations

03/08/2023

BREAKING NEWS
Bank of Canada has left its key interest rate unchanged


For the first time in a year, the Bank of Canada has left its overnight target rate unchanged, keeping it at 4.50%.

This is the Bank’s first rate hold of this rate-hike cycle, which began in March 2022. The move was expected by markets.

The Bank indicated “Governing Council will continue to assess economic developments and the impact of past interest rate increases, and is prepared to increase the policy rate further if needed to return inflation to the 2% target. The Bank remains resolute in its commitment to restoring price stability for Canadians.”

Officials from the Bank of Canada have indicated that its future rate decisions will be driven by economic data.

The next announcement will take place April 12.

10/26/2022

https://www.bankofcanada.ca/2022/10/fad-press-release-2022-10-26/

The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%.

07/13/2022

https://www.cbc.ca/news/business/bank-of-canada-rate-hike-1.6518161

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.

07/06/2022

Are you under a mountain of debt? Are you having hard time paying off?
Your house can help. Call/text/DM for details on how you can use equity in your house to pay off (consolidate).

06/01/2022

As expected by many, BOC raised the interest rate.

The Bank of Canada raised its benchmark interest rate by half a percentage point to 1.5 per cent on Wednesday and signalled that more hikes are on the way.