Shobana Charan

12/11/2024

Bank of Canada slashed rate by 50bps today. If you want to discuss your renewal coming up contact me today!!

09/26/2024

🚨 Big news for homeowners! 🚨

We are thrilled to announce that the Office of the Superintendent of Financial Institutions (OSFI) will eliminate the stress test requirement for uninsured mortgages making straight switches at renewal!

This change, set to take effect later this year, builds on MPC's earlier success in advocating for the removal of the stress test on insured mortgages. Homeowners will now enjoy greater choice, flexibility, and the opportunity to secure better rates in today’s challenging economic landscape.

Key Highlights:
✅Homeowners switching lenders at renewal will no longer need to pass the mortgage stress test.
✅This change applies to uninsured mortgages, aligning them with insured mortgages for "straight switch" renewals.

Thank you for your continued support as we champion important issues that impact homeowners and our industry! 💪🏠

12/07/2022

The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%.

07/13/2022

https://www.bankofcanada.ca/2022/07/fad-press-release-2022-07-13/?fbclid=IwAR0XGguxZg2RiNkTisc9-usdn8urCVUXcgvN3xVOk4BglJ9kWkV5gZFvk-c&fs=e&s=cl

The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%.

06/01/2022

https://www.bankofcanada.ca/2022/06/fad-press-release-2022-06-01/

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%.

03/02/2022

BOC raises rates from 0.25% to 0.50%

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 %.

02/08/2022

Toronto is now officially the most expensive city in Canada for houses 🏡

https://www.blogto.com/real-estate-toronto/2022/02/toronto-now-officially-most-expensive-city-homes-canada/?fbclid=IwAR0KPTuO_yWj0rXg16JiVUHW3_4iUZPdqWAxcJdg60gGx1qpomvwUzVR6t4

Step aside, Vancouver; your reign as the site of Canada's most expensive housing market has finally come to an end. Congratulations. Love, Toronto....

10/27/2021

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent.

03/10/2021

https://www.bankofcanada.ca/2021/03/fad-press-release-2021-03-10/?fbclid=IwAR1_6dr89V2ALWne3hp4woC8iVV2-eTmnmvY9kEgPLzqQ4oHevEssskQKZU

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) pro...