Innovative Blog

Whether you are looking for the latest Bank of Canada rate announcement, up-to-date information on the mortgage industry or fun tips on how to add curb appeal to your home, our blog is the place for you. Be sure to check back weekly for the latest industry updates and most popular mortgage topics affecting Canadian home owners!

January 20, 2021: Bank of Canada Announcement

January 20, 2021

As expected, the Bank of Canada maintained its key interest rate at the effective lower bound of 0.25 percent today. The ongoing pandemic is still causing severe economic impacts on a global scale. The first-wave of the COVID-19 vaccine rollout has begun, which has helped reduce uncertainty across the country.

Why does my broker need so many documents?

December 14, 2020

Collecting and submitting your mortgage documents can be an overwhelming and daunting task. That’s why we have dedicated team members to provide guidance and help you find and submit the correct documents to your lender. But why are all of these documents required?

Bank of Canada Announcement - December 9, 2020

December 9, 2020

A concise summary of the Bank of Canada announcement for December 9, 2020. See how the COVID-19 vaccination announcement is expected to impact the Canadian economy, and what you can expect for 2021.

Three Reasons to talk to your Broker before signing your Mortgage Renewal

November 10, 2020

While the convenience of signing and forgetting about it for another few years can be tempting, mortgage savvy homeowners know that taking the time to review their situation and reevaluate their options is almost always worth it.

Bank of Canada Announcement: October 28, 2020

October 28, 2020

The Bank of Canada reinforced the decision to keep its benchmark interest rate at 0.25 percent today. Although the Quantitative Easing (QE) program remains in place, two changes were noted in today’s press release:

What does a Mortgage Broker do?

October 21, 2020

Answering your most frequently asked questions: How does a mortgage broker work? How do brokers get paid? When should I use a mortgage broker? Why should I use a mortgage broker instead of my bank?

Do we only do ATB Mortgages?

September 18, 2020

One question we have been getting a lot of recently is “doesn’t Innovative just do ATB mortgages?” We thought a blog post would be a great opportunity to answer this question, but also to address additional misconceptions around the Innovative and ATB relationship.

Bank of Canada Announcement: The Reopening Phase for Canada

September 9, 2020

Once again, the Bank of Canada has opted to hold its benchmark rate at the effective lower bound of 0.25 percent. Although moving the rate lower than 0.25 percent would be considered counterproductive, the Bank expects Canadian recuperation after COVID-19 to be “heavily reliant on policy support.”

Bank of Canada Announcement: How COVID-19 continues to Impact the Economy

July 15, 2020

Due to the ongoing uncertainty around the unfolding of the COVID-19 pandemic, the bank opted to present a “central scenario for global and Canadian growth” in lieu of the usual economic projections outlined in the MPR.

Bank of Canada Announcement: The Impact of COVID-19

June 3, 2020

The Bank of Canada held its benchmark rate steady at 0.25 percent today, which is considered the effective lower bound of the key interest rate. This is the point at which reducing the rate further would be considered counterproductive.