Kim Bowles - Neighbourhood Dominion Lending Centre

10/31/2025

Happy Halloween!🎃👻

10/30/2025

10/29/2025

The Bank of Canada's overnight rate reduced to 2.25% at this morning's announcement.

Important to remember:
This does not mean mortgage rates reduce to 2.5% or that the fixed rates dropped .25%. What this drop does is lower the benchmark overnight rate by .25%. The overnight rate is the rate that banks borrow money at; not the consumer. Banks in turn will reduce their Prime Lending Rate which will effect variable rate mortgages and lines of credit that are priced off prime.

09/17/2025

he Bank of Canada's overnight rate reduced to 2.50%, this is the first move in a while. This reduction was due to a weaker economy and less risk for inflation. I wish we could educate the media to understand that this does not mean mortgage rates reduce to 2.5% or that the fixed rates dropped .25%. What this drop does is lower the benchmark overnight rate by .25% . The overnight rate is the rate that Banks borrow money at, not the consumer. Banks in turn will reduce their prime lending rate which will effect variable rate mortgages and lines of credit that are priced off prime. The fixed rates are priced on the bond markets . Bonds move based on investor confidence or lack of confidence, geopolitical issues and the Trump effect. The bonds reacted in the last 2 weeks based on the anticipation of a BoC cut which caused a very slight reduction in fixed rates last week. Variable rates are looking more attractive now. However, with the cut today the banks and mortgage companies will probably reduce the discount off prime as more people start to consider variable rate mortgages.

07/12/2023

The Bank of Canada has increased the overnight rate, which increases the prime lending rate.

If you are currently in a variable rate mortgage and have questions on how this increase will affect your current payment, please reach out and we can discuss your options.

03/08/2023

During this mornings announcement, The Bank of Canada maintains policy rate

01/20/2023

It’s been 20 years since I have been to Portugal and it is just as beautiful

07/30/2022

Happy long weekend!