Melanie Ide - Dominion Lending - Keller Williams - Mortgage Broker Cambridge - Real Estate Cambridge

Effective July 22, 2019, the Bank of Canada 5-year Benchmark Qualifying Rate for mortgages is 5.19%. down from 5.34%. The Bank qualifying rate is separate from the actual mortgage rates offered by banks to borrowers, but is used to assess homebuyers who are seeking loans, this rate drop will help buyers and clients refinancing quality for a higher amount.
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