video1.0<iframe src="https://www.loom.com/embed/fa8313e2d7464cd0a88aa30527ed00cf" frameborder="0" width="1728" height="1296" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>12961728Loomhttps://www.loom.com12961728https://cdn.loom.com/sessions/thumbnails/fa8313e2d7464cd0a88aa30527ed00cf-f7d3403ef8831339.gif64.0387Hi everyone, I wanted to update you on the recent decision from the Bank of Canada, which lowered interest rates by a quarter percent, bringing the overnight lending rate down to 2.25%. This change translates to a prime reference rate of 4.45% for financial institutions, resulting in variable mortgage rates now being under 4%. Fixed rates remain stable, currently in the high threes to low fours. Please keep this information in mind as you consider your mortgage options moving forward.