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Old 07-15-2015, 08:57 AM   #1
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Exclamation Bank of Canada - Cuts Rate from 0.75% to 0.50%

Its official... BoC has Announced it will cut rate to 0.50%.

It will be interesting to see when and how much lenders will drop the Prime rate? Last time the BoC cut its rate by 0.25%... the lenders cut the Prime rate by 0.15%.
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Old 07-15-2015, 09:32 AM   #2
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TD just announced that they are dropping Prime by 0.10%.

What do you think about this?

It's the 0.10% they didn't offer from the last Bank of Canada cut.
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Old 07-15-2015, 11:50 AM   #3
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I'll post this question in this thread as well as you are a forum sponsor.

What is the rate if I incorporated a #co to purchase property? I'd be putting 20% down

No, I don't want to sign a personal guarantee for the #d co - the lender would have security with a mortgage against the land.
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Old 07-15-2015, 12:30 PM   #4
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Quote:
Originally Posted by killer_carlson View Post
I'll post this question in this thread as well as you are a forum sponsor.

What is the rate if I incorporated a #co to purchase property? I'd be putting 20% down

No, I don't want to sign a personal guarantee for the #d co - the lender would have security with a mortgage against the land.
What type of property are you looking at? Owner Occupied, Rental, Commercial?
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Old 07-15-2015, 01:04 PM   #5
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Originally Posted by Mortgage Made Easy View Post
TD just announced that they are dropping Prime by 0.10%.

What do you think about this?

It's the 0.10% they didn't offer from the last Bank of Canada cut.

Disappointing but not surprising. When rates start going up the banks will keep pace which means they've basically given themselves another 0.25% spread on variable rate lending. The only thing that I do find surprising is the lack of attention this is getting. I'm sure there was a thread on the off-topic board when the BoC dropped rates last time and this time nothing...

Last edited by codfather; 07-15-2015 at 01:47 PM.
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Old 07-15-2015, 03:56 PM   #6
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owner occupied commercial space/commercial condo
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Old 07-15-2015, 05:48 PM   #7
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Interesting... RBC lowers Prime by 0.15% this afternoon... slightly better than TD's 0.10%.

http://business.financialpost.com/pe...-market-impact
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Old 07-16-2015, 01:19 PM   #8
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TD has followed suit with all the other lenders with matching the 0.15% drop... Prime is now 2.70%.
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Old 07-16-2015, 08:49 PM   #9
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At this point would you recommend fixed or variable for a mortgage renewal? Debating between variable and a 3 year fixed rate
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Old 07-16-2015, 08:57 PM   #10
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It's not that easy to say fixed vs. Variable. It usually requires to understand your goals etc which include your overall solution.

The answer is also a personal preference.

Both are great options depending on your needs and situation.

If you have a few minutes, I would be available for a quick chat. 403-648-1541
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