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About Mortgage LogicFinding the right mortgage for your circumstances is important to us. As Accredited Mortgage Professionals (AMP) we offer the highest level of integrity, customer service and industry knowledge.
- Today the Bank of Canada (BoC) announced that they will not adjust their Key overnight lending rate (1%) which directly affects the Prime rate (3%) used by major Canadian FI's. 2014 year has seen a Canadian dollar continue to weaken to the US dollar. The Canadian dollar is trading near $0.91 USD . The US Dollar has been gaining strength as the US economy has climbed out of the worst recession since the 1930’s. Five years after near economic… Read More
- The Bank of Canada has again decided to keep their key overnight lending rate unchanged. This, despite the fact that inflation (CPI) has moved closer to the 2% target. The Bank's key rate directly influences the Prime rate which is the index rate used for floating/variable rate lending. There continues to be no reason for variable rate mortgage holders to have concern, at least for the foreseeable future. The last time that the Prime rate of interest changed was September 2010. Core… Read More
- This week the Government of Canada issued it's first 50 year bond at an interest rate of 2.96%! It sold $1.5 billion at double the minimum target. If this isn't an indication of low stable interest rates for an extended period of time then we can't think of anything else that is. This was a rare issuance, but likely a sign of more to come. Large insurance and pension funds likely feasted on the issue because it takes care of… Read More