Lotus Loans & Mortgages Blog
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Read up-to-date news on our mortgage blog. News on Canadian mortgages, brokers, rates, loans, services & solutions. Lotus Loans & Mortgages Corp. is one of Brampton Ontario's leading mortgage brokerage firms, offering seamless solutions to all your mortgage needs. Whether you want to buy a new home, set up a business, or even refinance an existing loan or mortgage, we offer you the perfect..
Lotus Loans & Mortgages Blog
3M ago
Last week it was announced that inflation went up in December 2023. This may mean that the BoC will not lower Prime rate in the near term, most still expect a decrease sometime mid-year, fingers ..read more
Lotus Loans & Mortgages Blog
4M ago
I am sure most of you know already, but this past Wed the BoC raised its rate by another ¼% which means Prime has increased 10 times since March 2022 and Bank prime sits at ..read more
Lotus Loans & Mortgages Blog
4M ago
GDP contracting by 1.1% in Q3 while inflation eased to 3.1% in October, so the BoC as expected left Prime rate as is when they met this past Dec 6/23, which means that Bank Prime ..read more
Lotus Loans & Mortgages Blog
4M ago
After 2 rate hikes in a row over the summer, finally the Bank of Canada (BoC) held tight this past Wednesday Sept 6th and left Prime as is which means that Bank Prime remains at ..read more
Lotus Loans & Mortgages Blog
4M ago
At Lotus Loans & Mortgages Corp, we often receive questions about minimum down payments so we are proving helpful information based on the 3 most popular scenarios: The Standard 20% down payment is the minimum ..read more
Lotus Loans & Mortgages Blog
11M ago
In this high inflation environment where prices of everything are higher, Lotus Loans & Mortgages is seeing many people that are accumulating debt. Many who have approached their bank for a mortgage to consolidate debt ..read more
Lotus Loans & Mortgages Blog
1y ago
It was recently announced that the Canadian annual inflation rate slowed to 5.2% in February which is the largest deceleration since February 2020. That is great news, especially for fixed-rate mortgages! While most lenders are ..read more
Lotus Loans & Mortgages Blog
1y ago
The Bank of Canada has raised the Prime rate 7 times since March 2022, that is a whopping 4% in 9 months. The next BoC meeting is scheduled for next week January 25th. The good ..read more
Lotus Loans & Mortgages Blog
1y ago
The Bank of Canada raised rates for the 8th time since March 2022 this past Wednesday, January 26th by a ¼% which means that the Bank Prime rate is 6.7%. That is the highest level ..read more
Lotus Loans & Mortgages Blog
1y ago
For those who are self-employed and show low personal income to save on income tax by keeping money in your corporations, it is tough to qualify for a mortgage isn’t it? Luckily, Lotus Loans & ..read more