Tag: Bank of Canada

Stress Test Rate to Fall to 4.79

Stress Test Rate to Fall to 4.79%

The stress test rate is about to fall for the second time in three months following cuts by Canada’s Big Six banks to their 5-year fixed posted rates.

How the Government Has Saved the Economy from COVID-19 So Far

How the Government Has Saved the Economy from COVID-19…So Far

Despite deep economic pain caused by the global pandemic, the Canadian economy—and the housing sector in particular—appears to be bouncing back from the near-complete shutdown of society…at least for now. That’s thanks in large part to numerous government measures meant to keep liquidity flowing and people in their homes. Below,

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Renewal Rate Shock Diminishing, Says BoC

Falling mortgage rates over the course of 2019 have reduced the rate increase shock for those renewing a mortgage. While those renewing a mortgage this year are still locking in at a rate higher than their previous rate, that increase is quickly declining, according to data from the Bank of Canada. “The average household renewing […]

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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.