Interest rate cut welcome news for homeowners with variable-rate mortgages

9/5/2024 | Posted in Mortgage Interest Rates by Jessi Sandhu

Real estate experts say the Bank of Canada’s third consecutive interest rate cut is welcome news for variable-rate mortgage holders, but it could still be some time before ... More

Tags: Bank of Canada Benchmark Rate, Home Owners, Mortgage Interest Costs, Variable Rate Mortgages

The Bank of Canada is expected to cut rates again, with U.S. Fed on deck

9/3/2024 | Posted in Interest Rates by Jessi Sandhu

The Bank of Canada is widely expected to deliver a third consecutive interest rate cut on Wednesday as inflationary forces continue to cool on both sides of the Canada-United ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Canada Living, Canadian Debt, Interest Rate Forecast, Interest Rates, Mortgage Interest Costs, Variable Rate Mortgages

Bank of Canada seen cutting rates faster after weak U.S. jobs data

8/3/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

Markets are betting the Bank of Canada will cut at each of its remaining interest rate decisions this year as the labor market in the U.S. looks to be loosening faster than ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rate Forecast, Mortgage Interest Costs, Variable Rate Mortgages

OSFI announces new stress test for uninsured mortgages

4/16/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canadian regulator cracks down on high-debt mortgages to protect borrowers ... More

Tags: Canada Living, Canadian Mortgage Market, Mortgage Consumers, Mortgage Debt, Mortgage Interest Costs, OSFI

Rise in bond yields could send fixed mortgage rates higher, experts say

1/18/2024 | Posted in Mortgage Interest Rates by Jessi Sandhu

This week’s rise in bond yields could cause some lenders to reverse recent fixed mortgage rate cuts, experts say. ... More

Tags: Bank of Canada Benchmark Rate, First Time Home Buyers, Fixed Rate Mortgages, Home Buyers, Interest Rate Forecast, Interest Rates, Mortgage Interest Costs

Bank of Canada likely to begin cutting rates in mid-2024: CIBC's Tal

10/18/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The overnight rate could settle around 3%, according to leading economist ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Canadian Housing Market, Canadian Housing Market Slowdown, Interest Rates, Mortgage Interest Costs

Homeowners brace for mortgage payment shock amid higher-for-longer rate outlook

10/2/2023 | Posted in Home Owners by Jessi Sandhu

With interest rates increasingly expected to stay higher for longer, many of the homeowners who locked in low rates years ago are likely bracing themselves for financial pain as ... More

Tags: Condo Owners, Home Owners, Mortgage Consumers, Mortgage Interest Costs, Mortgage Rates Canada

Canadian housing costs have hit 30-year high, StatCan data shows

9/19/2023 | Posted in Canada Living by Jessi Sandhu

Canadians are paying more for housing as of August 2023 than in the past three decades, Statistics Canada data shows. ... More

Tags: Cost of Living, Mortgage Interest Costs, Rental Market

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 ... More

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

Expect interest rates to remain high until 2025: former BoC governor

8/2/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu

A prolonged period of heightened interest rates will be critical to Canada’s central bank reaching its inflation target, a former Bank of Canada Governor said. ... More

Tags: Mortgage Consumers, Mortgage Interest Costs, Mortgage Rates Canada

What impact might OSFI's new proposals have on borrowing costs?

7/26/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu

The plan might help safeguard the stability of the financial system - but could also see mortgage costs rise. ... More

Tags: First Time Home Buyers, Home Buyers, Mortgage Consumers, Mortgage Interest Costs, Mortgage Trends, OSFI

Rising mortgage interest costs now biggest factor driving inflation - and they're not done yet

6/28/2023 | Posted in Canada Living by Jessi Sandhu

Inflation cooled on a month-over-month basis in May, but one factor that has been unrelenting in driving the consumer price index higher is mortgage interest costs — and the ... More

Tags: Canada Living, Canadian Households, Household Debt, Mortgage Consumers, Mortgage Interest Costs