by KevinBell | Apr 18, 2023 | Mortgage, Rates
In today’s volatile interest rate environment, I can’t overstate the importance of taking advantage of a full 120 day preapproval period. At Direction Mortgage, we call all our existing clients at least 4 months ahead of renewal since we know that this will give us...
by KevinBell | Jan 4, 2023 | Debt, Mortgage, Rates
In 2023, Canadian interest rates are higher than they have been in 15 years and expected to decrease in 2024 and beyond For many homeowners, payments on variable rate mortgages, and lines of credit have been increasing as rates increase and this can certainly make it...
by KevinBell | Jan 4, 2023 | Bank of Canada, Mortgage, Rates
Happy New Year. In 2022 we had the Bank of Canada raise their overnight rate by 4% to 4.25% to reduce inflation. As a result, the economy is in much different position than when we entered 2022. Starting with the forecast of the major Canadian banks, we can see...
by KevinBell | Sep 7, 2022 | Bank of Canada, Rates
Last year, the Bank of Canada and central banks globally were committed to the idea that inflation was transitory and once supply chain issues were resolved prices would return to normal. In Canada this was especially strange given the Bank of Canada only mandate was...
