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“Rising interest rates and the introduction of stricter federal mortgage rules that constrained. estate market,” says Mary-Ann Mears, managing broker, Sotheby’s International Realty Canada in.
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The Bank dropped the rate 15 basis points, from 5.34 percent to 5.19 percent, primarily because Canada’s big banks have decreased their five-year posted rates, says Mark Herman, a broker with Mortgage.
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