To put it simply, the Bank of Canada (BoC) creates and lends money to banks at what’s called the Overnight Lending Rate (or Key Interest Rate ). This is the rate banks pay to borrow money. One of the BoC’s primary responsibilities is managing inflation in Canada. It does this by adjusting the Overnight Lending Rate: If inflation is too high , the BoC raises rates to make borrowing more expensive. This slows down spending and curbs inflation. If inflation is too low , the Bo

There are a lot of misunderstandings about mortgage brokers. Some people think our job is just about rate shopping and hunt for the lowest mortgage rates, while others assume we charge steep fees for something they could easily do themselves. Let’s set the record straight and break down what we really do, without the corporate lingo and with a bit of personality. So, What Exactly Do We Do? Think of us like wedding planners, but for mortgages. If you were getting married, woul