Important Mortgage Rule Change Update: FICOM will not be making changes to it’s lending guidelines, which means that provincially regulated credit unions, such as Island Savings and Coastal Community Credit Union, will not have to adopt the new mortgage rule changes come January 1st, 2018. Find out how this can affect the approval of your early mortgage renewal application by contacting a mortgage expert today.
OLYMPICMORTGAGE What happened yesterday The Bank of Canada raised its rate yesterday by a quarter point, from 2.25% to 2.50%. It’s the first increase since July 2023. The short version of why: increased energy prices. Oil prices have stayed high for most of the year, inflation has been running around 3% since […]
Olympic Mortgage Questions? Call 250.858.7160 Book a call · Email me · Start an application A little humor to start off – the “interest rate jitters” prank Last month I hastily sent out a newsletter with my office address in the subject line, instead of the subject. I was playing around with the settings for […]
Olympic Mortgage Market update September 2026 One week later THE BANK HELD. HERE’S WHAT MATTERS NOW. The overnight rate stayed at 2.25%. Mortgage pricing didn’t. It’s been a week since the Bank of Canada held its overnight rate at 2.25%. That’s enough time for the headlines to fade and for the […]