Ottawa Mortgage Broker - Steven King

09/20/2020

Checkout our new Pre-Qualify online applications to give clients are very quick estimate of what they may qualify to buy or refinance for before having to do a FULL application.

03/20/2019

The real estate industry has been pleading with the government to do something to help younger buyers shut out of markets in cities such as Toronto and Vancouver

10/24/2018

The Bank of Canada raised the prime interest rate by another 0.25% this morning which will affect everyone with a variable rate mortgage. The next Bank of Canada meeting is scheduled for December 5, 2018

This is the third increase this year

01/25/2018

01/17/2018

Bank of Canada prime interest rate is on the move again!

The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. Here is the Bank’s official statement

11/09/2017

That time of year again!

10/25/2017

Bank of Canada announces no change in the prime interest rate this morning :)

The Bank of Canada has decided to keep its benchmark interest rate steady at 1 per cent.

10/17/2017

It's official the "stress test" will now be implemented on all insured and uninsured mortgages ie. even consumers putting 20%+ down will now have to qualify at the Bank of Canada's benchmark rate starting in 2018. (currently 4.89%)

Canada's top banking regulator has published the final version of its new mortgage rules, which include a requirement to "stress test" borrowers with uninsured loans to ensure they could withstand higher interest rates.

10/12/2017

More rules may be coming!

Tougher rules on getting a mortgage could also contribute to another 6% slump in Toronto home prices in 2018