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Annual interest rate announced by the Bank of Canada periodically as a reference rate to determine the applicable interest rates for commercial loans, in Canadian dollars. Financial institutions set their prime rates based in part on the overnight rate determined by the Bank of Canada. Granted by financial institutions to their blue-chip customers, the prime rate benefits members with the highest credit rating.
03/06/2015
It is indeed a rare occurrence when a buyer pays its condo, in one single payment. Most of them must obtain a mortgage loan to finance their purchase. What are the criteria and conditions to get a mortgage loan? Whom should you get it from? Banks, credit unions or other sources? What…...
05/12/2023
A mortgage broker is a mortgage finance professional who acts as an intermediary between the borrower and the lender. Since May 1, 2020, mortgage brokerage has been a discipline covered by the Act respecting the distribution of financial products and services and subject to the regulation of the Autorité des…...