Bank of Canada raises the key interest rate by one-half of a percentage point (0.50%), bringing it to 4.25%

12.07.2022posted by: Walter Mota
The Bank of Canada has raised its policy rate to 4.25% today, stating borrowing costs need to rise to bring inflation back to target of 2% from the current rate of 6.9%. This marks the seventh consecutive rate increase in 2022. “We’re expecting roughly zero growth (in the Canadian economy) for the next several quarters…
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A look at How Rate Increases Impact different Mortgage Types

09.11.2022posted by: Walter Mota
With inflation at its highest level in almost 40 years, the Bank of Canada continues to take drastic action to cool the economy with the latest of five consecutive rate increases announced on September 7. Rising interest rates impact everyone with a mortgage but how and when you will see the impact depends on the…
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Inflation SLOWED to 7.6% in July 2022. What does that mean for the Bank of Canada?

08.16.2022posted by: Walter Mota
By Craig Lord  Global News Posted August 16, 2022 The annual rate of inflation dipped to 7.6 per cent in July, Statistics Canada reported Tuesday, as lower gas prices took some of the heat off household budgets. But the head of the Bank of Canada is signalling the slowdown isn’t enough to avoid further interest rate hikes. In its latest consumer price index (CPI) report,…
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Protecting Yourself When Interest Rates Rise

07.11.2022posted by: Walter Mota
How a rise in interest rates affects you: A rise in interest rates can cost you more to borrow money. When interest rates rise, your loan payments will increase if: you have a mortgage, a line of credit or other loans with variable interest rates you’ll soon need to renew a fixed interest-rate mortgage or…
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THE NEW REAL ESTATE SERVICES ACT (RESA) Effective January 1, 2022.

01.09.2022posted by: Walter Mota
Happy New Year friends and cherished clients! 2022 is going to be a fantastic year! The Manitoba Securities Commission (regulatory body for Realtors and Real Estate Brokerages) has mandated that all Realtors in Manitoba are required to complete a signed Service Agreement with their clients before they continue or begin to provide help or services…
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