Category: Mortgage Rates

Mortgage Rates Keep Setting New Record Lows

Mortgage Rates Keep Setting New Record Lows

While mortgage rates have been tumbling steadily over the last couple of months, many are now in record-setting territory, with certain 1- to 5-year fixed rates now available for under 2.00% from discount brokers.

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MORTGAGE PAYMENT OPTIMIZATION (Secret 4 of 5)

Mortgage payment optimization at its core is simply increasing your regular mortgage payment to prepare for potential interest rate increase at the end of your mortgage term and protects you from against payment shock.

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2019 – Year in Review

As we turn the page on 2019, we wanted to take a look back at how mortgage rates fared as well as some of the key themes in mortgage news over the year.

Bank of Canada announces interest rate decision

The Bank of Canada (BoC) announced today that it would keep the overnight rate at 1.75%. The Bank Rate is correspondingly 2% and the deposit rate is 1.5%. The BoC has maintained the current overnight rate since last October, when it was raised from 1.50%. The rate hold was expected,

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About

East Coast Mortgage Brokers is Newfoundland and Labrador’s premier mortgage company. Founded in 2010, we work with Canada’s top lenders to ensure our clients get the best deal for their mortgage.