Bank Prime reduced finally, by 15 basis points

General Angela Calla 27 Jan

RBC is the first to decrease it’s Bank Prime Rate, they did not do the full 25 basis points that the BOC did however it is still a savings to canadians. See the news release below. The other banks likley will follow stay tuned for details.   http://www.newswire.ca/en/story/1478189/rbc-royal-bank-decreases-prime-rate   For questions or pre approval regarding […]

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5 Considerations about refinancing debt into your mortgage

General Angela Calla 26 Jan

If you’re presently carrying debt outside of your mortgage, restructuring your existing debts into your mortgage may be the answer for you. Unsecured debt (credit cards and some lines of credit) hold a much higher interest rate, which will take a lot longer to pay off, and negatively impact your monthly cash flow. Following are […]

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Common Questions & Myths Following This Week’s Rate Cut:

General Angela Calla 22 Jan

  1. How will this affect me? For the average Variable Rate Mortgage (VRM) holder, this will reduce the interest you pay by approximately $13 per 100k. (if & when they decide to make a change)   2. Does this affect my secured line of credit? If you have a line of credit, secured or […]

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Bank of Canada Shocks Canadians By Reducing Prime Rate

General Angela Calla 21 Jan

Good Morning, Great news for clients on the variable rate mortgage, as prime was reduced to 3/4 of a percent from the current 1% . Should the banks choose to follow this adjustment (which is likely however doesn’t always follow suit) bank prime shall be reduced to 2.75% from 3% and you will see a small payment reduction generally within a month […]

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Testimonial

General Angela Calla 5 Jan

Thanks as always for the great reminders throughout the life of my mortgage. The mortgage plans you have set out for me since I have done mortgages with your team instead of doing it myself with the credit union have saved me thousands of dollars, first it was $1200/month and now years later over $600 […]

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