With this new announcement, the Bank of Canada has decided not to increase prime interest rates. We expect this pause to continue in the attempt to curb the high inflation rates and further moves will be data-dependent.

Prime rate still remains at 6.70% for most banks, with some fixed-rate mortgages having come down off of the peak and well below the prime rate, fixed rates are allowing for more qualifications and improved cash flow. This stabilization presents an opportunity to get ahead in your mortgage planning strategy.

Recently, we were invited on the Steele and Vance Show and in a segment discussed what those who are looking to get into the market or are up for renewal should keep in mind. Here is a link to the short clip 2-minute clip.

As always, our team is available to answer your questions directly at angela@countoncalla.ca

The Angela Calla Mortgage Team.

Angela Calla is an 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

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