Bank of Canada keeps interest rate policy unchanged for July 2025
The Bank of Canada announced today that it is keeping its benchmark interest rate at 2.75%.
This was widely expected and reflects the Bank’s expert interpretation of current macroeconomic data, including inflation.
Mark Herman, best Calgary mortgage broker for first time buyers.
The Bank’s observations are summarized with our outlook below.
Canadian Economic Performance and Employment
- In Canada, US tariffs are disrupting trade but overall, the economy is showing some resilience so far
- After robust growth in the first quarter of 2025 due to a pull-forward in exports to get ahead of tariffs, Canadian GDP likely declined by about 1.5% in the second quarter, a contraction mostly due to a sharp reversal in exports following the pull-forward, as well as lower US demand for Canadian goods due to tariffs
Growth in business and household spending is being restrained by uncertainty
Labour market conditions have weakened in sectors affected by trade, but employment has held up in other parts of the economy
The unemployment rate has moved up gradually since the beginning of the year to 6.9% in June and wage growth has continued to ease
A number of economic indicators suggest excess supply in the economy has increased since January
Canadian Inflation and Shelter Prices
- Inflation measured by the Consumer Price Index (CPI) was 1.9% in June, up slightly from the previous month.
- Excluding taxes, inflation rose to 2.5% in June, up from around 2% in the second half of last year, largely reflecting an increase in non-energy goods prices
High shelter price inflation remains the main contributor to overall inflation, but it continues to ease
Based on a range of indicators, underlying inflation is assessed to be around 2½%.
Global Economic Performance, Bond Yields and F/X
- While US tariffs have created volatility in global trade, the global economy has been reasonably resilient
In the United States, the pace of growth moderated in the first half of 2025, but the labour market has remained solid
US CPI inflation “ticked up” in June with some evidence that tariffs are starting to be passed on to consumer prices
The euro area economy grew modestly in the first half of the year
In China, the decline in exports to the United States has been largely offset by an increase in exports to the rest of the world
Global oil prices are close to their levels in April despite some volatility
Global equity markets have risen, and corporate credit spreads have narrowed
Longer-term government bond yields have moved up
Canada’s exchange rate has appreciated against a broadly weaker US dollar
No GDP Projections in July Monetary Policy Report
While some elements of US trade policy have started to become “more concrete” in recent weeks, the Bank notes that trade negotiations are fluid, threats of new sectoral tariffs continue, and US trade actions remain unpredictable.
Against this backdrop, the Bank’s July Monetary Policy Report does not present conventional base case projections for GDP growth and inflation in Canada and globally. Instead, the Report presents a current tariff scenario based on tariffs in place or agreed as of July 27, and two alternative scenarios—one with an escalation and another with a de-escalation of tariffs.
Modest Growth Outlook
The Bank notes that the current tariff scenario has global growth slowing modestly to around 2.5% by the end of 2025 before returning to “around 3%” over 2026 and 2027.
The Bank further postulates that in the current tariff scenario, after contracting in the second quarter, GDP growth picks up to about 1% in the second half of this year as exports stabilize and household spending increases gradually. In this scenario, economic slack persists in 2026 and diminishes as growth picks up to close to 2% in 2027. In the de-escalation scenario, economic growth rebounds faster, while in the escalation scenario, the economy contracts through the rest of this year.
In the current tariff scenario, the Bank would expect total inflation to stay close to 2% over the scenario horizon as the upward and downward pressures on inflation roughly offset. However, it notes there are risks around this inflation scenario. As the alternative scenarios illustrate, lower tariffs would reduce the direct upward pressure on inflation and higher tariffs would increase it. In addition, many businesses are reporting costs related to sourcing new suppliers and developing new markets. These costs could add upward pressure to consumer prices.
With still high uncertainty, the Canadian economy showing some resilience, and ongoing pressures on underlying inflation, the Bank’s Governing Council decided to hold the policy interest rate unchanged.
It offered that it will continue to assess the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs related to tariffs and the reconfiguration of trade. If a weakening economy puts further downward pressure on inflation and the upward price pressures from the trade disruptions are contained, the Bank offered that “there may be a need for a reduction in the policy interest rate.”
Final comments
Governing Council added that it is proceeding carefully, with particular attention to the risks and uncertainties facing the Canadian economy. These include: the extent to which higher US tariffs reduce demand for Canadian exports; how much this spills over into business investment, employment and household spending; how much and how quickly cost increases from tariffs and trade disruptions are passed on to consumer prices; and how inflation expectations evolve.
I added: “We are focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. We will support economic growth while ensuring inflation remains well controlled.”
Next scheduled BoC rate announcement
The Bank is scheduled to make its next scheduled policy interest rate decision of 2025 on September 17th.
Probably the end of Mortgage Rate Reductions for Canada
Expert opinions on Bank of Canada interest rate cuts are shifting. A growing number of market watchers are backing away from their predictions of two more reductions this year. Several are now saying the Bank has likely reached the end of the current trimming cycle.
Back in April we said that Prime is probably going to stay where it is now; discounting the expected 4 more reduction to 0.
that looks to have come true.
5-year fixed is the way to go to side-step all the world’s recent happenings .
Mortgage Mark Herman, best Calgary mortgage broker near me.
The central bank held its trend-setting Policy Rate at 2.75% for a second time in its decision on June 4. Since then, inflation numbers and Gross Domestic Product readings have given the BoC reasonable grounds to stand pat.
Statistics Canada’s latest figures for GDP show it declined by 0.1% in April compared to March. Much of that decline was led by the manufacturing sector, which is falling victim to U.S. tariffs and trade uncertainty. A similar reduction is forecast for May. While many economists admit the slowdown shows the economy is softening, they say it is not on the verge of collapse. GDP is 1.3% higher that it was a year earlier.
The other key factor in the Bank’s rate decisions, inflation, held steady at 1.7% in May. That headline number is actually below the Bank’s target of 2.0% and would normally suggest there is room for a further rate cut. However, that is a little deceiving.
Headline inflation (aka the Consumer Price Index) continued to be skewed by the elimination of the consumer carbon tax. As well, core inflation, which is the BoC’s preferred measure, remains stuck at 3.0%, which is the high end of the Bank’s desired inflation range.
The Bank finds itself trying to balance economic growth against the risk of rising inflation. The Bank’s next interest rate announcement is set for July 30.
Canadian Mortgage Economic Data, June 4th, 2025
The Bank of Canada announced today that it is keeping its benchmark interest rate at 2.75%, unchanged from April (and March) of 2025.
As noted under “Rationale”, the Bank appears to be in a holding pattern until it gains more information on the direction of US trade policy and its impact on Canada.
Below, is a summary of the Bank’s observations and its outlook.
Summary – the 5-year fixed is the best option for June 2025 and July 2025 so far. ensure you get a rate hold are rates are creeping up.
Mortgage Mark Herman, top Calgary Mortgage Broker for First Time Buyers
Canadian Economic Performance, Housing, Employment and Outlook
- Economic growth in the first quarter came in at 2.2%, slightly stronger than the Bank had forecast, while the composition of GDP growth was largely as expected
- The pull-forward of exports to the United States and inventory accumulation boosted activity, with final domestic demand “roughly flat”
- Strong spending on machinery and equipment held up growth in business investment by more than expected
- Consumption slowed from its very strong fourth-quarter pace, but continued to grow despite “a large drop” in consumer confidence
- Housing activity was down, driven by a sharp contraction in resales; government spending also declined
- The labour market has weakened, particularly in trade-intensive sectors, and unemployment has risen to 6.9%
- The economy is expected to be considerably weaker in the second quarter, with strength in exports and inventories reversing and final domestic demand remaining subdued
Canadian Inflation
- Inflation eased to 1.7% in April, with the elimination of the federal consumer carbon tax shaving 0.6 percentage points off the Consumer Price Index
- Excluding taxes, inflation rose 2.3% in April, slightly stronger than the Bank had expected
- The Bank’s preferred measures of core inflation, as well as other measures of underlying inflation, moved up
- Recent surveys indicate that households continue to expect that tariffs will raise prices and many businesses say they intend to pass on the costs of higher tariffs
- The Bank will be watching all of these indicators closely to gauge how inflationary pressures are evolving
Global Economic Performance
- While the global economy has shown resilience in recent months, this partly reflects a temporary surge in activity to get ahead of tariffs
- In the United States, domestic demand remained relatively strong but higher imports pulled down first-quarter GDP
- US inflation has ticked down but remains above 2%, with the price effects of tariffs still to come
- In Europe, economic growth has been supported by exports, while defence spending is set to increase
- China’s economy has slowed as the effects of past fiscal support fade; more recently, high tariffs have begun to curtail Chinese exports to the US
- Since financial market turmoil in April, risk assets have largely recovered and volatility has diminished, although markets remain sensitive to US policy announcements
- Oil prices have fluctuated but remain close to their levels at the time of the April Monetary Policy Report
Rationale
With uncertainty about US tariffs still high, the Canadian economy softer but not sharply weaker, and some unexpected firmness in recent inflation data, the Bank’s Governing Council decided to hold the policy rate steady “as we gain more information on US trade policy and its impacts.
Looking Ahead: Uncertainty Remains High
The Bank noted that since its April Monetary Policy Report, the US administration has continued to increase and decrease various tariffs. China and the United States have stepped back from extremely high tariffs and bilateral trade negotiations have begun with a number of countries. However, the Bank said the outcomes of these negotiations “are highly uncertain,” tariff rates are well above their levels at the beginning of 2025, and new trade actions are still being threatened. Uncertainty remains high.
As a result, the Bank says it is proceeding carefully, with particular attention to the risks and uncertainties facing the Canadian economy. These include: the extent to which higher US tariffs reduce demand for Canadian exports; how much this spills over into business investment, employment and household spending; how much and how quickly cost increases are passed on to consumer prices; and how inflation expectations evolve.
Final comments
Today’s announcement ended with the following statement from the Bank’s Governing Council: “We are focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. We will support economic growth while ensuring inflation remains well controlled.”
Next scheduled BoC rate announcement
The Bank is scheduled to make its fifth policy interest rate decision of 2025 on July 9th.
GST Rebate for 1st Time Home Buyers
We have had lots of questions about this proram.
The legislation has been tabled, but is not done yet. As of today, and it is for contracts written May 27, 2025 or later.
Updates as they come in.
We have a 4-plex buyer who is purchasing a newly constructed 4-plex in Calgary at $1,250,000. His rebate is about 60k – now that is now pretty substantial!
Mortgage Mark Herman, 1st time buyer and move up mortgage specialist in Calgary Alberta.
BMO & CIBC: Not on list of Top-11 banks in Canada
Wow hey??
Who would guess that 2 of Big-6 banks that millions of Canadians “think they have a financial relationship with” did not even make the list of the Top-11 banks in Canada.
It is surprising the amount of customers that call us looking to “beat their bank’s mortgage rate” when they should be looking at if they should even be doing mortgage business at their main personal bank.
Mortgage Mark Herman, Calgary Alberta new home buyer and mortgage renewal specialist of 21 years.
We recommend that they also look at the T’s & C’s – Terms and Conditions – to their own bank’s mortgages to find:
- Payout penalties that are 500% to 800% – yes, 5x to 8x the amount of payout penalties at broker banks.
- Their renewal rates are usually always at rates higher than what Broker Banks offer – because Broker Banks know the broker that placed you there will jump at the chance to move them to a different bank, for a better/ market rate, and then we get paid again. Big-6 banks don’t have to worry about that because you are usually not aware of market rates.
- SELF-employed mortgage holders are often “worked over by the Big-6 banks” whereas, Broker Banks are more than happy doing tons for self-employed business owners.
Here’s the full list of Canada’s best banks for 2025, according to Forbes:
- Tangerine
- Simplii Financial
- RBC
- PC Financial
- Vancity
- EQ Bank
- TD
- Scotiabank
- National Bank
- Desjardins
- ATB Financial
footnote: link action here https://www.narcity.com/best-banks-in-canada-forbes-2025
RBC Mortgage Payout Penalties Skyrocket in 2025
Details of the recent actions RBC has taken to INCREASE THE PAYOUT PENALTY for their own customers.It shows that Big-6 Banks are not your best -mortgage- friend. Brokers Are!Mortgage Mark Herman, Top Calgary Alberta mortgage broker
If you’re seeking a textbook case of banks giving consumers the short end of the stick, look no further.
The nation’s biggest mortgage lender, RBC, just slashed its posted rates.
“RBC’s move is the biggest move to increase penalties (IRDs) since its posted rates peaked on September 20, 2023,” says Matt Imhoff, founder of Prepayment Penalty Mentor.
For those fluent in the dark arts of interest rate differential (IRD) charges, this spells disaster for anyone daring to escape their RBC mortgage shackles early. Here’s precisely how grim it gets…
This is what RBC did to its posted rates today (Friday):
- 5 Year: -30 bps
- 4 Year: -25 bps
- 3 Year: -35 bps
- 2 Year: -85 bps
- 1 Year: -55 bps
- 6 Month: -55 bps
Anyone attempting to break a 2, 5, 7, or 10-year RBC mortgage now is potentially in for a world of penalty hurt due to these changes.
By way of example, if you’re an originator poaching a $500,000 RBC 4.4% 3-year fixed originated in July 2024, that client would be staring down a penalty of approximately $17,500, Imhoff says.
That’s up almost $10,000 in one day—simply because RBC slashed the comparison rate (its 2-year posted rate in this case).
In other words, the 255 bps “discount” from posted that this customer got in 2024 is now like a financial boomerang, coming back to hit them hard Imhoff says.
“This IRD is significantly higher than it should be, and that’s the risk of going with a bank where posted rates are elevated.”
In the above example, the client’s only option to avoid more than a three-month interest penalty would be to ride out their RBC term until they have just 1.41 years remaining (per the chart below).
To virtually ensure a three-month interest penalty, a customer needs to be just eight months shy of their mortgage’s maturity, as illustrated in the RBC table below.
Watch out for TD customers
As Matt’s table below shows, TD’s posted rates are well above where they typically reside relative to bond yields. As a result, “I believe this sets the stage for what TD will inevitably do,” he says.
In cases where a client needs to refi, he adds that the risk of imminent posted rate changes at TD makes it too risky for brokers to get the deal approved elsewhere and then request discharge from TD. Time is money in this case.
“If a broker tries to get a payout order from TD today, TD can wait up to five business days,” Imhoff notes, adding that during that time, the penalty can go up.
In the event that early discharge makes clear sense, he says, “I am advising brokers to have their TD clients go to the branch, break the mortgage, pay the penalty while it is still on sale, and switch into an open.”
PPM has a great table (below) that also shows which terms at which banks are most prone to IRD penalties. Terms in red face IRD charges now, based on the assumptions the user enters. Terms in orange are at risk of being charged IRDs on the next posted rate drop.
It pays to know in advance when penalties make a refinance uneconomical. “There are brokers working on deals today that will never fund—all that wasted time, effort, money, just to get a payout that kills the deal.”
Bank of Canada Lowers Consumer Prime to 4.95%
The Bank of Canada lowers its benchmark interest rate to 2.75%
In the face of significant geopolitical tensions, the Bank of Canada announced today that it has lowered its policy interest rate by 25 basis points. This marks the seventh reduction since June of 2024.
Below, we summarize the Bank’s commentary.
Canadian Economic Performance and Housing
- Canada’s economy grew by 2.6% in the fourth quarter of 2024 following upwardly revised growth of 2.2% in the third quarter
- This “growth path” is stronger than was expected when the Bank last reported in January 2025
- Past cuts to interest rates have boosted economic activity, particularly consumption and housing
- However, economic growth in the first quarter of 2025 will likely slow as the intensifying trade conflict weighs on sentiment and activity
- Recent surveys suggest a sharp drop in consumer confidence and a slowdown in business spending as companies postpone or cancel investments
- The negative impact of slowing domestic demand has been partially offset by a surge in exports in advance of tariffs being imposed
- The Canadian dollar is broadly unchanged against the US dollar but weaker against other currencies
Canadian Inflation and Outlook
- Inflation remains close to the Bank’s 2% target
- The temporary suspension of the GST/HST lowered some consumer prices, but January’s Consumer Price Index was “slightly firmer” than expected at 1.9%
- Inflation is expected to increase to about 2.5% in March with the end of the tax break
- The Bank’s preferred measures of core inflation remain above 2%, mainly because of the persistence of shelter price inflation
- Short-term inflation expectations have risen in light of fears about the impact of tariffs on prices
Canadian Labour Market
- Employment growth strengthened in November through January and the unemployment rate declined to 6.6%
- In February, job growth stalled
- While past interest rate cuts have boosted demand for labour in recent months, there are warning signs that heightened trade tensions could disrupt the recovery in the jobs market
- Meanwhile, wage growth has shown signs of moderation
Global Economic Performance, Bond Yields and the Canadian Dollar
- After a period of solid growth, the US economy looks to have slowed in recent months, but US inflation remains slightly above target
- Economic growth in the euro zone was modest in late 2024
- China’s economy has posted strong gains, supported by government policies
- Equity prices have fallen and bond yields have eased on market expectations of weaker North American growth
- Oil prices have been volatile and are trading below the assumptions in the Bank’s January Monetary Policy Report
Rationale for a rate cut
While the Bank offered that economic growth came in stronger than it expected, the pervasive uncertainty created by continuously changing US tariff threats is restraining consumers’ spending intentions and businesses’ plans to hire and invest. Against this background, and with inflation close to the 2% target, the Bank decided to reduce its policy rate by 25 basis points.
Outlook
The Bank notes that the Canadian economy entered 2025 “in a solid position,” with inflation close to its 2% target and “robust” GDP growth. However, heightened trade tensions and tariffs imposed by the United States will likely slow the pace of economic activity and increase inflationary pressures in Canada. The economic outlook continues to be subject to more-than-usual uncertainty because of the rapidly evolving policy landscape.
Final comments
The Bank noted that monetary policy “cannot offset the impacts of a trade war.” What monetary policy “can and must do” is ensure that higher prices do not lead to ongoing inflation.
The Bank said it will carefully assess: i) the timing and strength of both the downward pressures on inflation from a weaker economy and ii) the upward pressures on inflation from higher costs. It will also closely monitor inflation expectations.
It ended its statement by saying it is committed to maintaining price stability for Canadians.
More scheduled BoC news
The Bank is scheduled to make its third policy interest rate decision of 2025 on April 16th.
Mortgage renewal: Now switch lenders without re-taking the stress test
Great news as a few leading banks, soon to be followed by the rest of the pack, have DITCHED THE STRESS TEST for RENEWALS.
This means if you have extra debts or a debt level higher than when you got your mortgage, some banks can now overlook that and still get you the best rates.
there is now an option if you were concerned about renewing due to higher debt loads or if your financial situatoin has changed since you bought your home.
Technically, this means most conventional switch (more than 20% down payment) customers no longer need to prove they can afford a payment based on the minimum qualifying rate (MQR). That rate is at least 2% higher (or 200 bps where 100 bps = 1.oo%) than actual rates.
This news is just out today for BOTH High ratio/ insured (meaning you bought with less than 20% down payment) AND Conventional (meaning 20% or more down payment)
Note, however, that property values for insurable borrowers must be under $1 million unless grandfathered.
To find out more please call (best) 403-681-4376 or email to reach out for more data.
This is a BIG DEAL. For renewals we always had to do the math to ensure you could change banks and many with higher debts than they bought with were not able to change banks. The banks knew this and offered them renewal rates that were way to high, but the home owners had no option. Now you do!
20 year mortgage expert, Mortgage Mark Herman
YES!
Bank of Canada lowers benchmark interest rate to 3%
The Bank of Canada opened its monetary policy playbook for 2025 with a 0.25% reduction in its overnight rate. The 6th since June of last year.
In issuing its January Monetary Policy Report, the Bank also noted that its projections are subject to “more-than-usual uncertainty” because of the rapidly evolving policy landscape, particularly the threat of trade tariffs by the new administration in the United States.
Variable rates win, but can you handle some possibly sleepless nights if Trump’s tariffs increase fixed rates as much as 3%?
(Click to see the link to the report showing this.)
If Canada does a full retaliation to Trump’s 25% tariffs our Canadian interest rates could go up by 3%; and if there is no retaliation at all, Canadian interest rates could go down by up to 3% as well!
Mortgage Mark Herman, 20+ years of mortgage experience with an MBA from a top school & Top Calgary Alberta Mortgage Broker
Below, we summarize the Bank’s commentary.
Canadian economic performance and housing
- Past interest rate reductions have started to boost the Canadian economy
- Recent strengthening in both consumption and housing activity is expected to continue
- Business investment, however, remains weak
- The outlook for exports is supported by new export capacity for oil and gas
Canadian inflation and outlook
- Inflation measured by the Consumer Price Index (CPI) remains close to 2%, with some volatility due to the temporary suspension of the GST/HST on some consumer products
- Shelter price inflation is still elevated but it is easing gradually, as expected
- A broad range of indicators, including surveys of inflation expectations and the distribution of price changes among components of the CPI, suggest that underlying inflation is close to 2%
- The Bank forecasts CPI inflation will be around the 2% target over the next two years
Canadian labour market
- Canada’s labour market remains soft, with the unemployment rate at 6.7% in December
- Job growth, however, has strengthened in recent months, after lagging growth in the labour force for more than a year
- Wage pressures, which have proven sticky, are showing some signs of easing
Global economic performance, bond yields and the Canadian dollar
- The global economy is expected to continue growing by about 3% over the next two years
- Growth in the United States has been revised upward, mainly due to stronger consumption
- Growth in the euro area is likely to be subdued as the region copes with competitiveness pressures
- In China, recent policy actions are boosting demand and supporting near-term growth, although structural challenges remain
- Since October, financial conditions have diverged across countries with bond yields rising in the US, supported by strong growth and more persistent inflation, and bond yields in Canada down slightly
- The Canadian dollar has depreciated materially against the US dollar, largely reflecting trade uncertainty and broader strength in the US currency
- Oil prices have been volatile and in recent weeks have been about $5 higher than was assumed in the Bank’s October Monetary Policy Report
Other comments
The Bank also announced its plan to complete the normalization of its balance sheet, which puts an end to quantitative tightening. The Bank said it will restart asset purchases in early March 2025, beginning gradually so that its balance sheet stabilizes and then grows modestly, in line with growth in the economy.
It also offered further rationale for today’s decisions by saying that with inflation around 2% and the economy in excess supply, the Bank’s Governing Council decided to reduce its policy rate. It also noted that cumulative reduction in the policy rate since last June is “substantial.” Lower interest rates are boosting household spending and, in the outlook it published (see below), the economy is expected to strengthen gradually and inflation to stay close to target.
Outlook
In today’s announcement, the Bank laid out its forecast for Canadian GDP growth to strengthen in 2025. However, it was quick to also point out that with slower population growth because of reduced immigration targets, both GDP and potential growth will be “more moderate” than what the Bank previously forecast in October 2024.
To put numbers on that forecast, the Bank now projects GDP will grow by 1.8% in both 2025 and 2026. As a result, excess supply in the Canadian economy is expected to be “gradually absorbed” over the Bank’s projection horizon.
Setting aside threatened US tariffs, the Bank reasons that the upside and downside risks in its outlook are “reasonably balanced.” However, it also acknowledged that a protracted trade conflict would most likely lead to weaker GDP and higher prices in Canada and test the resilience of Canada’s economy.
The Bank ended its statement with its usual refrain: it is committed to maintaining price stability for Canadians.
2025 will bring more BoC news
The Bank is scheduled to make its second policy interest rate decision of 2025 on March 12th. I will provide an executive summary immediately following that announcement.
Summary of Mortgage Rule Changes
Key Mortgage Rule Updates
30-year amortization for insured mortgages
Starting December 15, 2024, 30-year amortizations will be available for insured mortgages. This option is open to first-time homebuyers and those purchasing newly built homes, including condos.
Higher insured mortgage limits
Applications for insured mortgages will now be accepted for properties valued under $1.5 million, giving more buyers access to high-value homes with lower down payment requirements.
Stress test simplification
In line with OSFI’s guidance, current stress test requirements will continue for insurable, uninsurable, and uninsured applications. Eligible insured transfers and switches will remain qualified at the contract rate.
How these changes benefit you
✔️ Reduced monthly payments
Extending amortizations to 30 years will lower monthly payments, helping clients manage affordability amidst rising living costs and fluctuating interest rates.
It usually works out to reduce your payment by 9% or lets yo buy 9% more home (increases the mortgage amount but about 9%.)
✔️ Expanded opportunities for buyers
Higher insured mortgage limits make it possible for more Canadians to purchase homes in competitive urban markets like Toronto and Vancouver for up to $1,500,000 with 5% down on the 1st 500k and 10% down payment on the balance.
This set of mortgage rule changes should make it easier for buyers to get into a home now.
More importantly, it lets buyers purchase up to $1.5M with $125k down, where before they would have topped out at $1m with $75k down payment.
- Mortgage Mark Herman, top best Calgary mortgage broker,
- 403,681-4376