1. Today’s rates – As widely expected, the Bank of Canada held the overnight rate at the current level so there is no change to the Prime rate or variable rates at this time.

The fixed rates have been falling since their peak in Oct 2023.  Your lowest rate and easiest qualifying rate continues to be the 5 year fixed.

2. Buying/selling – For those looking to buy or sell, there has definitely been an uptick in the market for sales/purchases.   It’s great to see clients finally being able to buy their first home or a move-up home!

3. Need lower payments? – This year, the most popular type of mortgage is the “REFINANCE”!   We can roll back your amortization or consolidate more than one debt into one smaller payment.  That’s a refinance.  There are many options available so if this is what you need to do, give us a call.

It looks like some economists are thinking there is a 33% chance of the Prime rate coming down in April.  Wouldn’t that be nice??

In advance, we wish you an amazing Spring Break!   I’m seeing double digit temperatures late next week which would definitely be welcome! And I would like to congratulate Richard for his 5 year work anniversary!   In the blink of an eye, 5 years goes by!

As always, please send us an email with any questions you have or if you know of someone we can assist with our mortgage services.

Nazarina and Richard
604-789-2000 and 604-250-8608