905-791-1100Lotus Loans and Mortgages Mississauga mortgage blog. Get the latest news on Canadian mortgages, mortgage brokers, and mortgage rates.
Help for homeowners in financial distress
In today’s high rate, high inflation environment, we are seeing more people facing the possibility of mortgage defaults. Recent findings from a Maru Public Opinion survey have highlighted this concerning trend: an 18% increase in [...]
BoC announcement, no change
The Bank of Canada met earlier this week in March 2024 and left Prime rate as is which means that Bank prime remains at 7.2%. What does this mean? It's an opportune time to assess [...]
Assumable & Portable Mortgages
In our current high rate environment, there are 2 mortgage strategies that are important to briefly touch on. For homeowners with existing home that have assumable mortgages, they have an opportunity to sell their home [...]
BoC 1st Interest meeting 2024
For the 4th meeting in a row, the Bank of Canada left interest rates unchanged as expected at its 1st meeting of 2024 on Jan 24th. The most noteworthy part of its announcement was the [...]
Increase in inflation and decrease in fixed rates
Last week it was announced that inflation went up in December 2023. This may mean that the BoC will not lower Prime rate in the near term, most still expect a decrease sometime mid-year, fingers [...]
Different Down Payment Type
At Lotus Loans & Mortgages Corp, we often receive questions about minimum down payments so we are proving helpful information based on the 3 most popular scenarios: The Standard 20% down payment is the minimum [...]