Tag: mortgage payment change
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BoC Rate Cuts: What a 25-50 bps Drop Does To Your Payment
Wondering how a 25–50 basis point Bank of Canada rate cut actually changes your mortgage payment? See side-by-side numbers for $600K and $800K mortgages on a 25-year amortization, plus quick context on stress-test qualifying and what this means for delinquencies and affordability. Assumptions (so you can replicate) Formula used (standard mortgage payment):Monthly payment = P…
Canada Housing Market 