From talking to experts in the finance world I have learned that many people do not know the relationship between the impact of the Bank of Canada rate changes. Many people, according to mortgage brokers I know, think the Fixed rates go down when the bank of Canada rate goes down but they do not automatically. This article explains better than I ever could what happens.
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Sincerely,
David Hennessey
REALTOR®
eXp Realty
604 626 8903
