Mortgage interest costs now up over 80% since the start of the BoC's rate hikes
9/14/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest ...
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Bank of Canada holds key rate steady at 5 per cent, says economy is weakening
9/6/2023 | Posted in Interest Rates by Jessi Sandhu
The Bank of Canada held its key interest rate steady at five per cent today, citing recent evidence that suggests the economy is weakening. ...
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Economists see Bank of Canada holding on rates after surprise GDP contraction
9/1/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Economists say the latest GDP data from Statistics Canada showing a contraction in the economy suggests the Bank of Canada's rate hiking campaign may be coming to an end. ...
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Sustained low interest rates no longer possible, says former BoC governor
9/4/2023 | Posted in Interest Rates by Jessi Sandhu
This is despite a projected slight drop in the BoC’s policy rate by the end of 2024 or early 2025 ...
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Canadian market participants see rates staying at 5 per cent in 2023: BoC survey
7/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
The Bank of Canada (BoC) will not raise rates again and will start cutting a little later than previously anticipated, according to a survey of market participants released by the ...
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What mortgage owners need to know about the Bank of Canada's rate hike
7/13/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Following the Bank of Canada’s latest interest rate hike, experts say Canadian mortgage owners will feel the impact of higher borrowing costs, either in the form of higher ...
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How are mortgages keeping inflation high?
7/15/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada hiked interest rates again this week in response to persistently high inflation, prompting questions about the role of mortgages in the ongoing battle with high ...
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Struggling mortgage holders could see lenders waive fees under new guidelines
7/6/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Ottawa has published a new set of guidelines to standardize how Canada’s federally regulated lenders offer mortgage relief to consumers struggling under the weight of higher ...
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Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
7/12/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of ...
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Another rate hike coming, say Big Six banks
7/7/2023 | Posted in Interest Rates by Jessi Sandhu
All six of Canada’s main commercial lenders now expect the Bank of Canada to raise interest rates next week after the country’s labor market tripled expectations in ...
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How risky is it to extend Canadian mortgage amortizations?
6/27/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from ...
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When will the Bank of Canada put the brakes on its rate-hike campaign?
6/27/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Economists weigh in on the possibilities for the central bank’s policy rate ...
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Another week, another rise in fixed mortgage rates. How high could they go?
6/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Mortgage lenders, including most of the big banks, have continued to hike their fixed mortgage rates following the recent surge in Government of Canada bond yields, which are used ...
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BoC debated waiting until July to hike rates, but says data prompted it to act sooner
6/21/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada's governing council considered waiting until July to raise interest rates, but ultimately decided to act sooner in the face of hot economic data. ...
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Bank of Canada likely to hike again in July: TD
6/16/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Central banks seek sweet spot between fighting inflation and sparking recession ...
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Canada's debt rises as rates cut into households' cash flow
6/14/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Hawkish monetary policy and inflation posing headwinds for borrowers, latest figures suggest ...
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Canada mortgage market crisis coming amid high rates?
6/13/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Could the prospect of persistently high rates spell trouble for the market’s stability? ...
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Governments shunting 'dirty work' on inflation to Bank of Canada, CIBC says
6/13/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada will have to keep rates higher for longer unless governments do more to dial back their spending, one of the country’s largest commercial lenders warned. ...
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Why the Bank of Canada rate hike won't be one and done
6/9/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Many economists are now pencilling in another hike in July ...
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"More pain" for variable-rate mortgage holders as the BoC hikes rates
6/7/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Variable-rate mortgage holders are in for “more pain” following the Bank of Canada’s half-expected decision to hike interest rates again. ...
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6/6/2023 | Posted in Interest Rates by Jessi Sandhu
After hitting pause on rates, growing speculation the bank is ready to hike again ...
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Further BoC hike may be necessary, says leading economist
5/24/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
The central bank has kept the policy rate frozen at 4.5% in its two most recent meetings ...
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Bank of Canada: Key interest rate cut to lowest level
3/27/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement. ...
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Big Six banks slash prime rates by half a point
3/17/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ...
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Bank of Canada lowers overnight rate target to 1.25 percent
3/4/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit ...
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BoC rate must be at 1.5%, think-tank's fiscal policy council says
3/2/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Just a few days before the Bank of Canada’s March 4 meeting, the Monetary Policy Council of the C.D. Howe Institute called on the institution to lower its benchmark policy ...
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OSFI considering new benchmark rate for uninsured mortgages
2/19/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Office of the Superintendent of Financial Institutions (OSFI) has announced that it is considering a new benchmark rate to determine the minimum qualifying rate for uninsured ...
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Bank of Canada Holds Rates, Shows Less Confidence in Outlook
1/22/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy. ...
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Canadian households to get short break from rising debt costs
12/31/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
TD economists says the cost of servicing debts should ease early in 2020 ...
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Bank of Canada keeps key interest rate target on hold
12/5/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada kept its key interest rate on hold as expected at 1.75 per cent where it has been for more than a year as it said Wednesday that ongoing trade conflicts and ...
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