Great news for variable rate mortgage holders.  BoC announced yesterday that they would once again leave rates unchanged.  The result is no changes to the Prime rate which directly affects variable rate mortgage holders.  So looking at all indicators and statements made by the bank yesterday, there’s no danger of variable rate hikes in the near future. So, for variable and adjustable rate mortgage holders, there remains little reason to lock in.

More and more I realize how so much information regarding mortgages never gets to the consumer.  I’m going to start blogging some mortgage information that will help people understand the process of getting a mortgage in today’s world.  Many are still under the impression it’s the same getting a mortgage now than it was 5 years ago.   Stay tuned for regular updates and please share and spread the word to help people stay up to date.