Lock-In Your Best Interest Rate
The Bank of Canada has a set schedule for announcing the Overnight Rate, which influences the commercial banks to decide on their Variable Rate for mortgages.
This Bank of Canada Overnight Rate influences lenders to revise their Prime Rate and in turn
affects whether bigger or smaller portion of your regular mortgage payment goes towards paying down the outstanding Principal amount.
This is just one of the many factors that affects your journey to be mortgage free sooner.
We invite you to check our preferred mortgage partners website for the weekly update on the mortgage rate.
Contact them today to lock-in your best interest rate!