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Posts about:

Mortgage

How are mortgage rates set?

With the recent Bank of Canada’s most recent 0.25 per cent drop on prime rates, many are wondering if mortgage rates will further decrease over the rest of 2024. While it’s difficult to predict exactly what will happen with interest rates, it’s important to remember that those older rates were among the lowest in Canadian history.  

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All about the tax-free First Home Savings Account (FHSA)

 

The Canadian government’s new First Home Savings Account (FHSA) came into effect on April 1, 2023. This new registered savings account allows prospective first-time home buyers to save for a down payment on a tax-free basis. FHSA contributions are tax-deductible (like an RRSP), and qualifying withdrawals to purchase a first home are non-taxable (like a TFSA).

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