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The Prime Rate

The Prime Rate & Regulation Changes   In Canada, mortgages are directly impacted by the prime rate and mortgage regulations established by Government. In the last decade, a drastic drop in the prime rate, coupled with the introduction of new regulations, have enabled consumers to take on more manageable debt loads. The prime rate is the interest rate that commercial banks ...

Down Payments: 5% vs 20%

Down Payments: 5% vs 20%  When purchasing a home, one of the most important decisions you’ll make is the size of your down payment.  In Canada, the minimum amount required for any home purchase is 5% for an owner occupied home and 20% for a rental property.  Owner occupied homes with 20% or greater down payment do not require mortgage loan insurance.  Here are some ...
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