Blog
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Bank of Canada Lowers Interest Rate to 4.25% – What This Means for You
The Bank of Canada recently reduced its interest rate to 4.25%. This policy shift could bring significant changes for Canadian homeowners and those considering entering the housing market. At Invis, we aim to help you understand how this impacts your mortgage and what actions to consider moving forward. Understanding the Rate CutAfter a series of rate […]
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Canada’s Inflation Rate Drops to New Low: Insights for Mortgage Borrowers and Homebuyers
Canada’s inflation rate has steadily declined, reaching 2.5% in July, the lowest level seen since March 2021. This reduction is a positive sign of progress in managing inflation and aligns with expectations that the Bank of Canada may introduce a third consecutive interest rate cut on September 4th. Economic Progress: A Move Towards Stability The […]
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Understanding the Recent Mortgage Rate Adjustments: What It Means for You
Last week brought significant news for homeowners and potential buyers alike, as the Bank of Canada reduced its interest rate by 0.25%. This rate cut, the first since March 2020, has led to noticeable shifts in both fixed and variable mortgage rates, creating new opportunities for those in the housing market. Whether you’re renewing your […]
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Steady as it goes – Bank of Canada maintains its key policy rate at 5.0 per cent
In its recent decision, the Bank of Canada has opted to maintain the key policy rate at 5.0%. This move comes after assessing data as of October 2023, which indicates that the inflation rate stands at 3.1% and is expected to gradually move toward 2.5% by the third quarter of 2024. Bank of Canada Governor […]
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FAQs: Navigating the Ins and Outs of Mortgage Creditor Insurance
Question: Why should I consider mortgage creditor insurance? Answer: Mortgage creditor insurance, along with optional add-ons like disability and critical illness coverage, provides vital protection. It ensures that significant loans, such as mortgages, will be paid off if you pass away or experience a health condition that prevents you from working. Question: Who is mortgage […]
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Bank of Canada maintains its key policy rate at 5.0 per cent
The Bank of Canada kept the overnight rate today to 5.0% after receiving data, as of September 2023, that the inflation rate is at 3.8% and trending downward towards its target of 2%. Canada will officially announce soon it has entered a recession which is expected to be short in duration and this also bolstered […]
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Why Mortgage Creditor Insurance is Crucial for Protecting Your Home and Family
In the world of mortgages, Mortgage Creditor Insurance may not be the most common topic of discussion, but its importance cannot be understated. The topic often receives less attention, primarily because it deals with life’s more uncomfortable possibilities: the prospect of severe illnesses, unforeseen disabilities, or even mortality. Bringing up these topics isn’t always easy, […]
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It’s “wait and see” as Bank of Canada maintains its key policy rate at 5%
The Bank of Canada announced today that it will hold the overnight rate at 5% despite an inflation rate increase to 3.3% in July 2023 which is trending further away from its target inflation rate of 2%. The central bank is adopting a “wait and see” stance as there was a sharp drop in domestic […]
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Is there a “perfect time” to purchase a home?
You’ve saved enough for a down payment, your credit is in ship shape, you are gainfully employed, and you’ve even saved enough for closing costs and moving expenses. All systems go. You’re ready to get into the housing market! No doubt, you worked hard to get to this point and your excitement at the prospect […]
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Bank of Canada raises its key policy rate by .25% to 5.0%
The Bank of Canada increased the overnight rate today to 5.0% despite the decline in the inflation rate to 3.4% as of May 2023 because of lower energy prices. Food and shelter inflation remains high. In a recent speech, Deputy Governor Paul Beaudry stated: “We know this tightening cycle has not been easy for many […]
