Bank of Canada Overnight Rate Drop - Did Mortgages Go Down?


On July 24th the Bank of Canada Overnight Rate dropped, For the second time this year, the Bank of Canada has dropped their overnight rate by .25% down to 4.5%.

So, what does this all mean? Are mortgage rates going to come down? How come the posted mortgage rates did not seem to come down when the June 6 drop of .25 happened?

This video gives you an overview of what was happening in the recent Bank of Canada rate drops, why we did not notice a significant reduction when the over night rate started to drop, some best practice tips to be ready for your purchases and some calculator tools to help you analyze the impact of the rate changes on your interest costs and month payments. 



Thank you,
Gary and Rosemary

Gary Sims Victoria Homes
DFH Real Estate Ltd. Victoria B.C. Canada

We love people and we love homes!
Video: 91



Location: Victoria, BC, Canada

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