Bank Of Canada Lowers Mortgage Qualifying Rate To 5.49%

Authored by adam_rh 1 year ago

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 With this reduction in MQR, variable interest rates and mortgages with a term less than 5 years become a more viable option for consumers. Understand that the actual interest rate that variable mortgage rate and short term fixed rate clients is still the low contract rate that these options offer. The MQR is set to ensure that consumers who go for these less conservative options, are theoretically able to handle the potential increase in rates over the next few years.

 Adam Hawryluk

Mortgage Consultant

INVIS Mortgages

www.adamhawryluk.ca

Office: (250) 754-7775

Toll Free Phone: 1-800-758-3077

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