The Latest COVID-19 Mortgage Developments: Rates on the Rise + MORE Mar 23rd

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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Mortgage Rates Rising Rapidly Canada’s Real Estate Market Faces Uncertainty Call to End to Open Houses Mortgage Payment Deferral Challenges Filogix’s Expert Victim of Ransomware Attack Mortgage Rates on the Rise Banks and other mortgage lenders have been frantically raising rates since last week due to liquidity concerns and heightened credit risk. The increases continued over the weekend and are expected to persist throughout the week. Lenders have hiked the rates they make available to brokers by upwards of 70 […]

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Canadian Credit Card Companies Are Offering Relief to Customers Affected by COVID-19
Early last week, the government announced a myriad of relief efforts, including immediate plans to extend the 2019 tax deadline for individuals to June 1, 2020. Following suit, major cities, including Toronto, granted extensions to grace periods for utility bill payments and launched measures for further aid.  
The top Canadian banks announced unprecedented mortgage relief to homeowners affected by COVID-19. “This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products,” the press release noted.  
To relieve financial pressures amid the COVID-19 crisis, many Canadian financial institutions are standing by their customers and supporting them through the uncertainty.  
Although most banks have closed their doors to safeguard the health and well-being of their staff and customers, online services and contact centres are open to answer questions and provide assistance. In terms of credit products, here is what customers can expect…

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