Posts tagged mortgage rates
How to get a mortgage in Canada: a complete guide

Whether it's an inner-city condo in Toronto or a rural property up north, most people in Canada would love to own their own home. Among other things, buying real estate is a great way to provide safety for your family, improve your quality of life, and secure your financial future. However, while owning a home is a great achievement that deserves to be celebrated, the process of buying a home can be complex and fraught with danger.

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Understanding how mortgage rates work

Mortgage interest rates are calculated by banks and other lenders in accordance with central bank rates and competitive conditions. In the United States, the Federal Reserve is given the responsibility of setting rates in order to maintain economic stability. The situation in Canada is similar, with the Bank of Canada (BoC) setting the prime interest rate in order to meet its monetary policy objectives.

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