Lenders often require a home appraisal on both purchase and refinance transactions. If you are refinancing your mortgage or thinking about selling your home it is important to know some of the things that the lender will be looking at.
The Bank of Canada had their rate update today (June 1st) and announced another much anticipated rate increase to the overnight rate. It was risen by 0.50% to 1.5%. This is still lower than pre-pandemic levels. The Bank of Canada overnight rate was 1.75% pre-pandemic. For the full update from the Bank of Canada: https://www.bankofcanada.ca/2022/06/fad-press-release-2022-06-01/ … Continued