Prime rate is the benchmark rate that lending institutions use to determine lines of credit, mortgages, and personal loans.

The BoC meets eight times each calendar year to analyze the Canadian economy and to decide on whether they should…

Like the United States’ federal reserve, the Bank of Canada (BoC), is Canada’s central bank and is responsible for directing…

When working with a lender that offers an ARM as their product, your payment is NOT static on the day…

As interest rates on variable rate mortgage products increase, the payments do not change. There will be a point where…

Can’t emphasize this enough: that every lender will offer either an ARM or a VRM as their variable rate product,…

Somewhat! There is an initial approved total mortgage amount, the money is advanced, and there is an agreed upon monthly…

For a conventional VRM product, meaning a mortgage product with 20% or more in equity, the Trigger Point is when…

If you currently have a mortgage, your payment will change approximately $12 - $13 for every $100,000 that you owe…

The interest rate in a variable-rate mortgage fluctuates in response to the Bank of Canada’s changes to their overnight policy…