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We’re Floating Closer to Prime – 1.00%

—The Mortgage Report: Sept. 18— Variable Discounts Improve Further Bankers are making more dinero on floating-rate loans. That’s motivating them to cough up some profit and sharpen their variable rate...

A New Low for 5-year Refinance Rates

—The Mortgage Report: Sept. 15— Never before has Canada seen an uninsured 5-year fixed nationally advertised for 1.84%. But on Tuesday we saw it, courtesy of Tangerine. At 1.84%, Tangerine’s...

Bank of Canada Re-Signals a Long Road to Recovery

Quick Rundown Today’s Announcement:No change to rates Overnight rate:0.25% Prime Rate:2.45% (also no change; seePrime Rate) Market Rate Forecast:No BoC hikes until at least 2023 BoC’s Headline Quote: “The Governing...

The Striking Rate/Stock Divergence Continues

—The Mortgage Report: Sept. 2— Here’s something that baffles even experienced financial professionals. The U.S. stock market is exploding to all-time highs while bond yields trudge near record lows. It’s...