By: Rita Garami

How the BoC interest rate cut will affect mortgages

Tags: House Prices, Bank Of Canada, Mortage Rates, Homes,

Expect a mortgage price war at a bank near you. The Bank of Canada surprised financial markets by cutting its key interest rate by 0.25 per cent on Wednesday. Here are five ways the central bank's move will affect Canadian consumers: 1. Cheaper mortgages for some, but not all "This is good news if you're a variable-rate mortgage holder," Variable-rate mortgages are det...Read More