TD Bank Raises Prime Rate

Toronto Dominion Bank, one of the nation’s big banks, announced that it is changing its mortgage rates, including increasing their prime rate from 2.7 per cent to 2.85 per cent. The move is in anticipation of higher lending costs sparked by the recent changes in mortgage rules. The increase applies only to the TD Mortgage … Continued

Canada’s New Mortgage Regulations And How Will They Impact You

As part of the Government of Canada’s new national housing measures strategy to help stabilize the real estate market, mortgage regulations will be undergoing a serious overhaul that will affect many Canadians. In short, these changes will make it more difficult for homebuyers to qualify for a mortgage in today’s market. The new policy outlines … Continued

Down Payment Requirements for Mortgages

Before you start saving to buy a home, it’s important to know how mortgage down payments work. By planning early, you’ll be in the best position when it comes time to purchasing your dream home. Here are the basics. A mortgage down payment is the amount of upfront, liquid money you’ll need when buying your … Continued