We hope you are enjoying summer. We are pleased to share some positive news regarding the recent Bank of Canada rate announcement this morning. Prime Rate has decreased which will impact Adjustable Rate Mortgages (ARM’s) and Lines or Credit by approx. $13 dollars per $100k, while working to reduce the amortization of Variable Rate Mortgage ( VRM ) mortgage holders. We expect banks to follow with their prime rate being reduced to 6.70%. Read the full press release HERE.
The downward trend in rates is a very welcome development and may present new opportunities for homeowners and potential buyers alike.
If you or a loved one have any questions about how this change might affect your mortgage or financial plans, please do not hesitate to reach out. Our team is here to provide you with personalized advice and support, just kindly email callateam@countoncalla.ca or call us at 604-802-3983
Angela Calla is an 19-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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