09/07/2022
Rate Announcement
Today: September 7th 2022
Prime will be Increased by .75%
What this means, prime is currently 4.70% it will
increase to 5.45%.
If you are in a variable rate mortgage and your discount is prime -1.00% your rate is currently 3.70% now it will be increased to 4.45%.
The additional .75% increase is approximately a $40.82 increase in your monthly payment per $100,000 mortgage amount.
Example if your mortgage is $500,000 it will be an approximately $204.10 a month increase.
If you are in a fixed rate mortgage this change will not
affect you.
This is expected to be the last increase of 2022!
Please reach out if you have questions. I would be happy to help
[email protected]
647 518 1464