The Bank of Canada announced today that it is dropping the overnight lending rate to 1% and Major Canadian Banks followed suit by dropping their Prime Rate to 3%. Other lenders are expected to follow suit in the coming days.
Take care, Dave Vrabic, MortgageOpolis … (3 comments)
canadian mortgages: Down payment Options/Programs available to home purchasers with little or no down payment.
- 01/15/09 07:04 AM
Recently the Canadian government rescinded the 100% financing programs available to Canadian home purchasers, making it more difficult for individuals to purchase a home without a down payment. When this happened, many first time home buyers were discouraged at the thought of not being able to purchase a home without a down payment. However, there are still some very good options/programs available to purchasers that don't have a down payment saved, which can help them realize their dream of home ownership. Cash back mortgages - These mortgages offer purchasers cash back up to 5% or higher with select lenders. It is … (0 comments)
Canadian Mortgage Rates for January 20, 2009;)
;)
