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Bank of Canada Interest Rate Decrease, Mortgage Deferral Requests, and More

April 7, 2020 • Financial, Real Estate

The Impact of the COVID-19 Pandemic on the Canadian Mortgage Industry

There is no denying the effect that the COVID-19 pandemic has had on public health and world economies.

In the past several weeks, there have been many developments affecting all industries in Canada — including the Canadian mortgage industry.

For example, since March 4, 2020, the Bank of Canada interest rate has been reduced three times, going from 1.75% to 0.25%.

We are reviewing some of the top stories affecting the Canadian mortgage market on the Purview blog, including:

  • The Bank of Canada interest rate
  • Mortgage deferral requests
  • The impact on mortgage rates
  • Government of Canada assistance
  • And more

Read it here: https://www.purview.ca/top-stories-affecting-the-canadian-mortgage-market-amid-the-covid-19-pandemic/

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