The Bank of Canada has implemented its first significant rate cut of 0.50% since the start of the cutting cycle. This will have an immediate effect on variable rate mortgages offered by most lenders.

Looking ahead, similar rate cuts may be expected. At a minimum, the Bank is likely to continue with a 0.25% reduction and may increase the cut to as much as 0.75% or more, depending on economic conditions. At this stage, variable mortgages are considered the most advantageous option for suitable borrowers.

John Chrisanthidis, Mortgage Broker (FSCO Lic. M08001294 Mortgage Intelligence FSCO Lic. 10428)

✉️ [email protected]

☎️ 416-890-1365