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CURRENT RATES

2 YEAR 2.54%

3 YEAR 2.55%

4 YEAR 2.84%

5 YEAR 2.79%*

5 YEAR Variable 2.40%*

Updated September 12th, 2017
*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

Oriana News

What you need to know about the Equifax data breach

Associated Press ~ September 9th, 2017Equifax, one of the three main credit reporting companies, said this week that a major data breach exposed Social Security numbers and other important information of millions of people.The breach affected about 143 million in the United States, as well as some people in Canada and the United Kingdom, but Equifax didn't provide a number. Hackers had access to the data between May and July, Equifax said. The company discovered the ha...[Read More]

Bank of Canada hikes rate. What does it mean for your mortgage?

The Bank of Canada has increased its benchmark interest rate for the second time this year, a sign that the economy is improving enough to allow borrowing costs to rise from historic lows reached in the aftermath of the global financial crisis. The overnight lending rate was raised to 1 per cent from 0.75 per cent. When the Bank of Canada changes its benchmark rate, the move ripples through to other interest rates, including those of mortgages. With that in mind, here is a guide ...[Read More]

Mortgage rule changes are cooling housing market: Morneau

Globe and Mail ~ August 22ndFinance Minister Bill Morneau says last October's sweeping mortgage rule changes aimed at cooling Canada's housing market have successfully dampened high-risk borrowing.But despite a report urging Ottawa to look at ways of boosting support for Canadians entering the housing market, the Minister ruled out any new measures along those lines, expressing concern that such an approach would encourage higher house prices.The comments a...[Read More]

Too much tightening?

Mortgage Broker News ~ July 26th, 2017One big bank is sounding the alarm about recent and future mortgage policies.“Let’s be clear. A soft landing that eases Ontario and BC house prices and mortgage growth would be welcome news for macroeconomic stability,” CIBC Chief Economist Avery Shenfeld said in his latest report. “But nobody can be too sure of what kind of landing we’re now in. Better to carefully phase in further changes in rates an...[Read More]