OTTAWA — Real estate experts say the Bank of Canada's third consecutive interest rate cut is welcome news for variable-rate mortgage holders, but it could...
OTTAWA — Real estate experts say the Bank of Canada's third consecutive interest rate cut is welcome news for variable-rate mortgage holders, but it could still be some time before significant demand returns to the market.
Ratesdotca mortgage and real estate specialist Victor Tran says that for every quarter percentage point decrease, a homeowner with a variable-rate mortgage can expect to pay approximately $15 less per $100,000 of mortgage in monthly payments.
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