Paula Siemens

The Bank of Canada left the overnight rate unchanged we is what we expected. The Governor cited that the country is working within the expected CPI. This is very good news to the variable rate clients as it gives more reason to stay put in their variable rate mortgages, as the spread between variable @ 4.05% today and fixed rates @ 5.45% on average increases.

Many lenders have adopted the ne ...

Ottawa, July 9, 2008
2008-051

Government of Canada Moves to Protect, Strengthen Canadian Housing Market

Related document:

• Backgrounder

The Government of Canada today announced adjustments to the rules for government guaranteed mortgages aimed at protecting and strengthening the Canadian housing market. The new measures include:

• Fixing the maximum amortization period for new ...