Changes in the Overnight rate Bank Of Canada October 2019 Last Update

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October 30 2019. BANK OF CANADA maintained the overnight rate of 1.75%

If you have taken a variable rate mortgage out in the past 3 years then you may want to look at what your current rate is with the mortgage discount your received versus what you could possibly lock into today.

Anyone who has taken a variable rate in the past few years is currently sitting at higher interest rates then what they could be locking in at today!
Now is a great time to have a mortgage check up to see what new products are out there and what's available to you.

The variable rate mortgage is a very inexpensive penalty to get out of so if you're looking to make any change now would be a great time to get a review.

Refinancing may also be a great opportunity to be able to pull money from your current home in order to double up and buy another property. All the while making the new interest rate tax deductible on the new money.

We do have some lenders offering cash back to cover any costs associated with the legal fees for refinancing.
For the latest information about Mortgages and Real Estate in Canada
www.wilsonteam.ca
Category
Money in the bank

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