You may have heard that rates are changing, and that is true. They don’t call it war for nothing and you need an expert by your side!
Think of mortgage brokers as your loyal soldiers. What we are seeing is exactly what we anticipated when prime rate goes up and discounts go down. Confused? Don’t be, variable rates are based on prime and both Bank of Canada Prime and Bank Prime are different.
What the new discount means is what it means – they anticipate prime to go up higher.
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