Hello everyone,So, as the new year started, so did a new Tax for those who flipped homes in British Columbia. The New BC Home Flipping Tax: What You Need to KnowOn January 1, 2025,
So Bank of Canada raises key interest rate!!!
Dated: April 14 2022
Views: 252
So finally, after 20 years, the bank of Canada has raised the key interest rate, and apparently, there are more to come within this year. The last time the central bank raised its key interest rate by half a percentage point was back in May of 2000.
So most people getting a new mortgage have opted for the Variable because of the lower rates they were able to get as compared to the locked in rates. With the new increase of the half percent here are some numbers to consider, for every $100,000.00 of mortgage that you have borrowed the increase in your payment will be approximately $27.00 per 100K.
I like to keep these short and sweet and I will end off with, if this increase is a serious concern to you I would highly recommend you speak with your mortgage broker and consider locking your mortgage up! The next time the Bank of Canada is meeting is scheduled to take place sometime in June 1, 2022. Till then, then market changes will continue and we shall see the shift in prices.
-Shawn B
Shawn Bhatt
Hi, and thank you for stopping by! I have been serving the community for over ten years now, and it has been an absolute pleasure in doing so! I am dedicated to bringing you the best homes for sale an....
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I want to start by first wishing you all a very Happy New Year!!! I hope this year brings you all happiness, excellent health and prosperity! 2022 is now gone, and we have this wonderful new year to
So after 22 years of no severe or significant increase in the interest rates, the BoC increased the rates in April and slapped the market with a half-point increase, which sent a shockwave through
So finally, after 20 years, the bank of Canada has raised the key interest rate, and apparently, there are more to come within this year. The last time the central bank raised its key interest
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