• How Mortgage Are Set, Fixed vs Variable Rates

    Author: Victor And Taufeeq | | Categories: best mortgage rate , mortgage rates , variable rate , your lifestyle mortgage , fixed rate , Lowest Mortgage Rate

    Debt Consolidation Milton

    There are many types of mortgages and it is important to be well informed so you get the product that is the best for you, your goals and your lifestyle.  Valuable information below to get you started.   How Mortgage Rates Are Set: The chartered banks set the Prime lending rate (The rate they offer to their best customers).  They base their decisions on the Bank of Canada's overnight rate because that's the rate that influences their own borrowing.  More information here.  The Bank of Canada makes rate announcements 8 times per year.  Variable mortgage rates and lines of credit move in conjunction with the…

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