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Mortgage Rates Falls to a new Lower Territory as Investors Rush into Bond Market

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WASHINGTON – The average mortgage rates on a 30-year fixed mortgage have fallen again due to the rushing of investors into the bond market. This is expected to continue for a period of 3 months. Mortgages rates approximately follow the yield on the 10-year treasury. The average lenders offer an interest rate between 4.125 and 4.25 percent. However, the more aggressive lender charge a lower interest rate of 3.875% for some borrowers with pristine applications.

Before the announcement of Federal Reserve to not to raise the interest rates this year, the average rate stood at 4.40 percent. Federal Reserve also revealed in an announcement that it would jump into buying bonds again which is why interest rates would not rise. Mortgage rates underwent fluctuations in the last few months. In the month of November, there was an increase of over 5% in the mortgage rates which fell in December. Post this fall, there was a monthly spike of 12% in the sale of existing homes in the months of December and January. Not only in the US, but Toronto second mortgages rates were also showed a similar trend.

Due to decent economic growth in the US and the shrinking economic growth all over the world, the mortgage rates were kept at as low as 3.5 % and this trend is expected to continue in the future as well. Also, in the year 2016 and 2017, mortgage rates were lower and there was an increase in the sale of homes during this period of time.

Mike Fratantoni, Chief Economist for the Mortgage Bankers Association said their forecast hints that mortgage rates are expected to get higher later in the year to an average value of 4.6 percent. But during this period of time, the drop in mortgage rates has given an opportunity to the prospective buyers to go for their home. Due to low mortgage rates and moderating home-price growth, the purchasing power of people has improved. It is expected that this would result in an increase in the sale of homes than the previous time.

Jenny is one of the oldest contributors of Bigtime Daily with a unique perspective of the world events. She aims to empower the readers with delivery of apt factual analysis of various news pieces from around the World.

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Business

Why Multi-Province Payroll Compliance Is the Hidden Challenge Canadian SMBs Face and How Folks Solves It

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Photo courtesy of: Folks

Byline: Shem Albert

Running payroll in Canada can feel like crossing a country stitched from many different fabrics. Each province weaves its own pattern of tax rules, leave policies, and benefit requirements, creating a landscape where a single misstep can ripple through every paycheck. For small and mid-sized businesses, the challenge often remains hidden until growth pushes hiring beyond provincial borders or brings remote workers into the fold. What seems like a routine back-office task quickly becomes a test of accuracy, timing, and local knowledge. This is the gap that Folks set out to close, offering a way for employers to navigate Canada’s regulatory patchwork without slowing their momentum.

Provincial Rules Add Complexity

Canada’s payroll environment varies sharply by province. Federal rules set the foundation, but provincial tax rates, deductions, statutory leave entitlements, and benefit premiums add layers of complexity that employers must monitor carefully. Small and mid-sized businesses with staff across provinces or remote employees face different tax tables, reporting deadlines, and leave calculations that directly affect pay accuracy and remittance schedules.

Folks built its payroll module to address these differences. The platform calculates the correct provincial tax rates and deductions for each employee, applying updates automatically so employers avoid misapplied withholdings or late filings. Multi-location tax management allows a company with workers in Ontario, Quebec, or several other provinces to process payroll without creating separate accounts for each jurisdiction. Bilingual functionality in English and French and secure Canadian data hosting support compliance while keeping employee records accessible across language and regional boundaries.

Unified Records Improve Accuracy

Payroll errors often stem from mismatched employee data. Changes in pay rates, banking details, or benefits eligibility may not align between HR and finance systems, creating incorrect deductions or delayed payments. Smaller teams juggling separate platforms spend valuable hours reconciling information instead of focusing on strategic work.

Folks resolves these issues by combining HR and payroll in one platform. Updates to wages, hours, or tax information entered on the HR side flow directly into payroll without re-entry. This single, verified record strengthens the accuracy of every payroll run and ensures employees receive the correct pay and deductions. By removing the need for repetitive administrative work, HR staff can redirect their time to tasks that support growth and employee engagement.

Automation Keeps Provinces in Step

Each province sets its own requirements for holiday pay, pay frequency, and statutory benefits, making manual calculations both time-consuming and error-prone. Businesses that expand or hire remote employees must keep pace with shifting provincial regulations or risk penalties and audit issues.

Folks address these demands with automation designed for Canada’s regulatory landscape. Pay statements, deduction calculations, and custom pay schedules follow the applicable provincial rules without extra configuration. The system’s automated updates mean that a company hiring staff in British Columbia or Quebec can meet local payroll standards without adding new layers of setup or monitoring. Employers gain the ability to expand into new regions while maintaining accurate, on-time pay.

Reporting Strengthens Compliance

Changing tax rates and reporting requirements require ongoing attention from HR and finance teams. Companies that rely on disconnected systems risk missing a provincial update or submitting incorrect remittances, which can lead to fines and interest charges.

Folks provides detailed reporting tools that compile payroll, deductions, and benefits information across all locations. Employers can generate clear remittance and deduction summaries, simplifying the process of meeting provincial filing requirements. For organizations that want additional guidance, Folks also offers a payroll management service that brings in-house specialists to assist with configuration, compliance, and regular updates. These reporting features help companies stay audit-ready and avoid costly compliance gaps.

Scalable Payroll for Expanding Businesses

Many small businesses begin in a single province, where local tax and payroll demands can be learned over time. Growth into new provinces or the decision to hire remote staff adds a level of complexity that manual processes cannot handle efficiently. Errors multiply, compliance risks rise, and payroll teams spend more time correcting mistakes than supporting expansion plans.

Folks provides payroll that scales with company growth. Provincial tax logic, automated deductions, bilingual support, and secure Canadian data storage are built directly into the platform. By maintaining an accurate employee record and applying province-specific rules automatically, the system allows Canadian SMBs to expand with fewer administrative surprises and more predictable payroll operations. Companies gain the stability of compliant payroll across provinces while controlling the time and costs that typically accompany multi-jurisdiction growth.

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