Bank of Canad News
The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.
The next scheduled date for announcing the overnight rate target is September 5, 2018
Source Bank Of Canada press release,
July 11, 2018
Wednesday, September 13, 2017
1 year closed 2.99%
2 years closed 3.24%
3 years closed 3.09%
4 years closed 3.54%
5 years closed 3.29%
10 years closed 3.99%
5 years variable closed 2.41%
5 years variable open 3.80%
5 units + 2 years 4.10%
Number of years required to re-imburse a mortgage.
Value of the property estimated by a certified appraiser in order to grant a mortgage. Do not confuse with building inspection.
Mortgage allowing the buyer to take over the mortgage of the sellor.
Mortgage with a specific re-imbursement calendar. An indemnity is usually requested in case of full re-imbursement of the loan prior to established duration.
Amount paid by the owners for community expenses.
Mortgage representing 75% of the estimated value or the purchase price of the property, the lesser of the two amounts.
Cash payment by the buyer. Difference between purchase price and mortgage.
Difference between the market value of the property and loans on the property.