Rate drops help boost housing affordability: RBC
10/9/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
Interest rate cuts by the Bank of Canada in recent months have helped reduce ownership costs for homeowners and buyers and bring about a slight improvement in the overall housing ...
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Mortgage Digest: 50% odds of a 50-bps October rate cut, experts say
10/1/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Markets are increasingly betting on the Bank of Canada delivering a 50-basis point rate cut during its October 23 policy decision, with the odds now sitting at around 53% ...
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Fixed mortgage rates are falling again. Here's why
8/1/2024 | Posted in Mortgage Interest Rates by Jessi Sandhu
Canadian lenders are cutting fixed mortgage rates following a drop in bond yields. But what’s behind these latest moves? ...
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Bank of Canada considered waiting until July to cut interest rates
6/19/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Bank of Canada's governing council thought about waiting until July to lower interest rates but ultimately decided to cut earlier, the central bank's summary of ...
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Bank of Canada announces key interest rate decision
4/10/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada (BoC) today announced its key interest rate decision, electing to hold rates steady at five per cent. ...
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Is it time for aggressive rate cuts?
3/19/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
'I hope they're not tepid,' says expert about BoC's upcoming decisions ...
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Canada's housing market to stabilize, but don't expect return to "rollicking" price gains, BMO says
1/29/2024 | Posted in Canadian Housing Market by Jessi Sandhu
Stability is expected to return to the country’s housing market this year as interest rates ease, but homeowners shouldn’t expect a return to the ...
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BoC set to leave rate unchanged in January, says RBC
1/19/2024 | Posted in Interest Rates by Jessi Sandhu
The Bank of Canada is likely to leave its overnight rate unchanged in its first decision of 2024, according to new forward guidance by the Royal Bank of Canada. ...
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Big banks and lenders slash mortgage rates in time for the holidays
12/21/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Several of Canada’s big banks and numerous other lenders are offering a practical gift for borrowers this holiday season: lower mortgage rates. ...
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Mortgage activity down 25% from 2022 and fixed rates remain top choice, stats show
11/23/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
High interest rates have applied the brakes to Canada’s mortgage market, which saw growth slow to a 22-year low in September. ...
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Mortgage market risks rising in high-rate environment: CMHC
11/15/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon ...
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Most Canadian mortgage holders facing big payment shock: RBC
10/31/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) ...
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Bond yields surge to new heights, mortgage rates expected to jump another 20 bps
10/4/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Over the past two weeks, yields have risen by over 30 basis points, or 0.30%. Since bond yields typically lead fixed mortgage rate pricing, rates have been steadily on the rise. ...
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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 ...
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Fixed mortgage rates expected to surge as bond yields reach 16-year high
9/22/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high. ...
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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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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. ...
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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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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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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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Interest rate shock won't hit fixed-rate mortgage borrowers until 2025, expert says
6/22/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
While the pain of elevated interest rates is already hitting those with variable-rate mortgages, the sticker shock of higher payments might not be felt for a couple years among ...
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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 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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Prime rate reaches 22-year high of 6.95% and could rise further as rate-hike expectations grow
6/11/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Variable-rate borrowers will see their interest cost on their next mortgage payment rise as banks and other financial institutions have lifted their prime rates to a 22-year high ...
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Lenders - including some big banks -are hiking fixed mortgage rates again
5/29/2023 | Posted in Interest Rates by Jessi Sandhu
The past two weeks have seen a flurry of mortgage rate increases at mortgage lenders, including several of the Big 6 banks. ...
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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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Interest rates are plunging - so why aren't mortgage rates?
4/5/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu
Bond yields and central bank rates have never been lower, but not all the savings are filtering down. ...
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Mortgage rates are rising in Canada despite virus-relief cuts
3/31/2020 | Posted in Mortgage Interest Rates by Jessi Sandhu
Canada’s mortgage rates are creeping up even though the country’s central bank has slashed borrowing costs to combat the COVID-19 pandemic. ...
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What the Bank of Canada rate cut means for mortgages
3/5/2020 | Posted in Mortgages and Real Estate by Jessi Sandhu
Remember the Bank of Canada’s anxiety over worrisome consumer debt loads and housing imbalances? So much for that. ...
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