Darpan News Desk The Canadian Press, 09 Oct, 2023 10:14 AM
It is a conundrum that has faced countless homebuyer in recent years -- choosing a fixed- or variable-rate mortgage
That question has taken on even more significance following the Bank of Canada's recent run on rate hikes.
Meridian Credit Union's Allison Van Rooijen says she's seeing borrowers increasingly opt for fixed-rate mortgages because of the stability they offer.
Another trend she notices among fixed-rate borrowers is they're opting for shorter terms than the typical five-year loan as they take a wait-and-see approach to where interest rates are headed next.
Some residents of one of the regions most devastated by wildfires in British Columbia will be touring the burned-out site today. The Columbia Shuswap Regional District says in a statement that "some areas of the community have changed dramatically" after the Bush Creek East wildfire swept through, destroying or damaging as many as 200 homes.
The partnership with the Association of Southeast Asian Nations is considered a symbolic gesture that reflects Canada's expanded presence in the Indo-Pacific region. Trudeau, in a speech to ASEAN leaders Wednesday, said it shows the progress being made on a free-trade agreement between Canada and the 10-nation bloc.
The Bank of Canada held its key interest rate steady at five percent on Wednesday, deciding against another rate hike as the economy begins to falter. Inflation is expected to continue oscillating around three percent for months to come.
Two people have been charged after a home invasion where police say the suspects may have either targeted the wrong home or were looking for someone who wasn’t there. Vancouver police say an 89-year-old grandmother was injured and nine teens left badly shaken, after two people forced their way into a home shortly before midnight on August 24th.
A Chilliwack man has been charged with aggravated assault and discharge of a firearm with intent, after a man was shot Sunday. R-C-M-P say they were called around 6 p-m about a disturbance on a property and found a 35-year-old man shot in the leg.
A cyclist has been killed in an accident involving a semi-truck in Surrey. R-C-M-P say officers responded to a report of a crash on Scott Road at 104th Avenue just before eight this morning.
