‘It’s the lowest we’ve ever been’ — mortgage rates drop through the floor with some as low as 1.65%

Author: External Author | | Categories: Bank Mortgage , Builder Mortgage , Commercial Mortgage , Down Payment , First Time Home Buyer Mortgage , Home Equity Line Of Credit , Home Renovation Mortgage , Investment Property Mortgage , Mortgage Pre-Approval , Mortgage Pre-Approvalv , Mortgage Refinance , Mortgage Renewal , New to Canada Mortgage Program , Private Mortgage , Reverse Mortgage , Second Mortgage , Self Employed Mortgage

‘It’s-the-lowest-we’ve-ever-been’-—-mortgage-rates-drop-through-the-floor-with-some-as-low-as-1-65-The-Star (1).png

When Canadians shut their doors against COVID-19 last March, the Bank of Canada had set interest rates at a record low.

Banks didn’t immediately pass along those better rates though and consumers, stuck at home pondering their financial prospects, were surprised to find that the lower cost of borrowing didn’t necessarily apply to them early in the crisis.

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Original Article Source Credits: The Star , https://www.thestar.com/

Article Written By:  Tess Kalinowski

Original Article Posted on: Aug. 7, 2020

Link to Original Article:  https://www.thestar.com/business/2020/08/07/you-can-get-a-fixed-rate-as-low-as-184-per-cent-which-is-unbelievable-low-mortgage-rates-driving-up-home-prices.html



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