Bank of Canada lowers interest rates, which makes it a great time to buy or refinance. Take advantage while the Rates are low!
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New Stress Test Unveiled For Insured Mortgages: The new benchmark rate — the minimum rate a customer has to pay to qualify for insured mortgages — will be set at the weekly median five-year fixed insured mortgage rate from insurance applications, plus two per cent, according to a release from the Department of Finance Canada. The new rate will come into effect April 6, the Department of Finance said.