Bank of Canada re-commits to rate freeze and bond purchases

9/9/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada reiterated its pledge to keep interest rates at historic lows for years to come, but dialed back its willingness to take even more aggressive action and said it ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Inflation, Economic Recovery

Bank of Canada will maintain current level of policy rate

7/15/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates Canada, Variable Rate Mortgages

Bank of Canada holds rate steady

6/3/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada held its benchmark interest rate steady at 0.25 per cent on Wednesday and said it thinks the economic impact of COVID-19 on the world's economy ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Variable Rate Mortgages

Bank of Canada to drop qualifying rate

5/24/2020 | Posted in Home Buyers by Jessi Sandhu

The Bank of Canada is set to reduce its qualifying rate ten basis points, from 5.04 to 4.94 percent according a new report. ... More

Tags: Bank of Canada Benchmark Rate, First Time Home Buyers, Home Buyers, Stress Test

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. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Coronavirus, Economic Growth

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Banks, Household Debt, Variable Rate Mortgages

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Variable Rate Mortgages

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

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 ... More

Tags: Bank of Canada Benchmark Rate, First Time Home Buyers, Home Buyers, Mortgage Consumers, Uninsured Mortgages

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. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Mortgage Rates Canada, Variable Rate Mortgages

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 ... More

Tags: Bank of Canada Benchmark Rate, Canada Living, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

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 ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates Canada, Variable Rate Mortgages

Scotiabank pushes back its Bank of Canada rate cut forecast

11/29/2019 | Posted in Mortgage Interest Rates by Jessi Sandhu

Scotiabank now sees the Bank of Canada lowering its benchmark interest rate at the beginning of 2020 instead of at the central bank’s next meeting. ... More

Tags: Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate

Bank of Canada announces interest rate decision

10/30/2019 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada (BoC) announced today that it would keep the overnight rate at 1.75%. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Households, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada reveals latest interest rate decision

9/4/2019 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada resisted pressure from investors by declining to signal it will soon follow global peers in easing monetary policy. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Economic Growth, Interest Rates, Mortgage Consumers, Variable Rate Mortgages

A Bank of Canada rate cut as early as September

8/20/2019 | Posted in Interest Rates by Jessi Sandhu

A slowing economy and growing trade tensions suggest a cut will happen more quickly than currently accounted for, Macquarie economist says. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada to cut rates in October, then twice more

7/3/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada will start cutting its key lending rate in October as annual economic growth slows to one per cent in 2020, according to Capital Economics. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Interest Rates, Mortgage Rates Canada

Inflation surges to highest in seven years, giving Bank of Canada room to hold rates

6/20/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Canadian inflation quickened in May on increases across all eight major components, giving the Bank of Canada plenty of scope to hold interest ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Interest Rates

Bank of Canada maintains overnight rate target at 1.75 per cent

5/29/2019 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada today maintained its target for the overnight rate. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt

Interest rate cut now unlikely say economists

5/27/2019 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada will make its May interest rate decision Wednesday but it’s unlikely there will be a change according to a panel of experts. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Poloz expects rates to rise 'a bit' but unsure on timing

5/21/2019 | Posted in Interest Rates by Jessi Sandhu

Bank of Canada Governor Stephen Poloz said he sees the slowdown in Canada’s economy as temporary and that interest rates will likely go up – he just doesn’t know ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Housing Market, Economic Growth, Interest Rates

Bank of Canada keeps rates steady, cuts language about future hikes

4/24/2019 | Posted in Interest Rates by Jessi Sandhu

Bank of Canada keeps rates steady, cuts language about future hikes. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Bank of Canada 'going nowhere' with interest rates into 2020: Economist

4/3/2019 | Posted in Mortgages and Real Estate by Jessi Sandhu

The Bank of Canada is likely to stand pat on interest rates for the remainder of this year and well into 2020, according to the chief economist of BMO Financial Group. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Interest Rates, Mortgage Consumers, Mortgage Rates, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada's Poloz says stimulative rates needed for temporary soft patch

4/2/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Poloz's optimism Monday about the future could ease speculation the central bank could lower rates. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Real Estate, Economic Growth, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Bank of Canada to hold interest rates through 2020: TD Securities

3/15/2019 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada will likely hold off raising interest rates through all of 2020, and could even cut rates later this year, according to TD Securities’ senior rates ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Bank of Canada maintains overnight rate target at 1.75%

3/6/2019 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada (BoC) is keeping its key interest rate target on hold at 1.75 per cent on Wednesday, citing concerns about the global economy and Canada’s own recent ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Household Debt, Interest Rates, Mortgages & Real Estate

Bank of Canada to cut rates before the end of 2019

2/28/2019 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Capital Economics predicts that The Bank of Canada will cut its key lending rate in December as a weakening housing market and oil sector headwinds drag GDP growth back below ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Housing Market, Economic Growth, Interest Rates

Why Canadians are suffering a bankruptcy spike

2/25/2019 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada began raising its key overnight lending rate in July 2017 and it’s now at the highest level in a decade. Accustomed to historically low and even negative ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Bankruptcy, Canada, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt

Interest rates low enough to stimulate economy: BoC

2/22/2019 | Posted in Interest Rates by Jessi Sandhu

Stephen Poloz says the upward path for interest rates is 'uncertain'. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canadian Housing Market, Economic Growth, Interest Rates, Mortgage Rates Canada