The Bank of Canada raised interest rates by a quarter percent today bringing the benchmark rate up from rock bottom to 0.5%. This means that prime rate (off which variable rate mortgages and lines of credit are based) is now up to 2.5%. The bank was very careful not to suggest a lot of other increases in the near future.

Many clients ask us if they should lock in their variable rates while rates are so low. This article discusses our opinion on the matter for most borrowers.

The Bank of Canada left rates unchanged this morning which means prime remains at 2.25% and is expected to stay there until the end of 2010. Inflation is not expected to reach it’s 2% target until the 3rd quarter of 2011. Read the full article for more details.

Calgary’s housing market has gone through a lot of change in the past two years. Things are improving and now may be the perfect time to get in if you missed out before the market exploded in 2006.

The last 12 months have been a challenge in the Canadian Mortgage Industry. In Alberta and across the country we have seen an interesting phenomenon occur made up of two components which are discussed in this article.