Welcome to Claire Weston, Royal LePage Trinity Realty Inc. Brokerage Sign in | Help

January 2015 - Posts

Royal Bank lowers Prime Rate!

Royal Bank is the first of the big banks to follow the lead of Bank of Canada by lowering their prime lending rate to 2.85% from 3%. Just a week ago, the Central Bank of Canada announced they were lowering their overnight lending rate from 3% to 2.75%.

Changes to mortgage rules, effective January 1, 2015!

Effective January 1, 2015, Underwriters will be using different guidelines to arrive at the amount of mortgage prospective Buyers qualify for. All existing unsecured debt payments, such as credit cards, lines of credit, student loans etc., will be calculated