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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.
- Alas, today the big Canadian banks are finally seeing fit to lowering their prime lending rates by 0.15% to 2.85% from 3%. This move made after initially indicating, last week, that they would not change their Prime rates when the Bank of Canada (BoC) lowered it's Key rate by 0.25% on January 21st. The last time that the banks did not follow suit exactly with the BoC was in December 2008 when the BoC lowered it's Key rate by 0.25%… Read More
- Yesterday the Bank of Canada announced a 0.25% cut in their Key Overnight Lending Rate. This is the first movement in their Key Rate in four and a half years. The Bank of Canada's main concern is how falling oil prices will negatively affect the Canadian (GDP) economy. The resources sector is being hit so hard and fast, while the manufacturing & exporting sector slowly gains strength from a weaker Canadian dollar and an improving US economy. As a transition… Read More
- People will often wonder why the US has such a big impact on Canada's economy. Here in a few short words Peter Hall, Chief Economist of EDC sums it up from a global perspective: "Per capita, American consumers are among the richest in the world, operating in the planet’s top domestic market. Consumers account for about 60 per cent of GDP in other OECD countries, but in America, their share is a massive 70 per cent. Given that the US kicks… Read More