905-791-1100 For those who are self-employed and show low personal income to save on income tax by keeping money in your corporations, it is tough to qualify for a mortgage isn’t it? Luckily, Lotus Loans & Mortgages Corp. has access to A Lenders that will take your corporation’s income into consideration which will allow you to [...]
The Bank of Canada raised rates for the 8th time since March 2022 this past Wednesday, January 26th by a ¼% which means that the Bank Prime rate is 6.7%. That is the highest level in 15 years! The BoC alludes to the fact that they will likely pause any further rate increases which I [...]
This past week in early November 2022 it was announced that Canada’s annual inflation rate held firm in October, likely keeping the BoC on track to press ahead with interest rate hikes. Remember that bank Prime is up to 5.95% today. The BoC meets on Dec 7th where they likely move Prime upwards by a [...]
The next Bank of Canada rate announcement is Wednesday, October 26th and there will certainly be an increase. The prediction is between 0.5% and 0.75%. Existing variable rate mortgage clients either have variable payments that change every time prime changes or they have fixed payments where the allocation of principal and interest changes with every [...]
Whether you are a first-time homebuyer in Brampton or are wanting to refinance your home loan, mortgage rates largely affect you. Understanding rates and why they change is important when analyzing your affordability and looking for your dream home. What Influences Mortgage Rates? Brampton mortgage rates periodically change due to how well the economy [...]
