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July 2018

Market Watch - Bank of Canada Raises The Key Interest Rate to 1.5%
As many economists expected, the Bank of Canada announced today that it is increasing the overnight rate by .25% to a (total of 1.5%), the fourth increase since last summer, given strong economic improvements. ... read more
The Hidden Costs of Home Ownership
Many people think if they get a mortgage equal to the amount of money they are paying in rent, that’s all they need to become a homeowner. What they don’t realize is that there are hidden costs that come with homeownership that they may not have considered. If you are looking into buying your own home, there are a few things you should consider before jumping into the game. ... read more
Seven Ways to Pay Off Your Mortgage Faster
Paying down your mortgage as early as possible is one of the best suggestions that financial advisers make to their clients. After all, throwing extra money at the biggest debt you may have can result in big interest savings and being mortgage-free years sooner. ... read more
Life Insurance or Mortgage Insurance? Which One is Better For You?
When buying a home or renewing a mortgage, many people think they are obligated to sign up for their financial institution's mortgage life insurance. Don't rush into buying your bank's insurance policy until you've looked at all the possibilities. You could end up saving money and getting added life insurance coverage at the same time by purchasing a term life insurance policy instead. ... read more
How to Choose the Right Kitchen or Bathroom Fan
Bathroom and kitchen fans are an integral part of your home's overall ventilation system. In addition to removing odours and improving your indoor air quality, fans can also help lower the level of humidity in your house, protecting your home from moisture damage and helping to prevent the growth of mould. But with so many models to choose from, how do you know where to begin? ... read more
 

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NATIONAL MORTGAGE RATES
Term Posted
Rates*
Best
Rates*
6 Months 3.14% 3.10%
1 Year 3.04% 2.99%
2 Years 3.44% 3.24%
3 Years 3.55% 3.09%
4 Years 3.85% 3.35%
5 Years 5.59% 3.25%
7 Years 5.80% 3.35%
10 Years 6.10% 3.79%
Variable Rate 2.65%
Prime Rate ** 3.70%
*last updated: July 17, 2018


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