Bank of Canada drops key interest rate
12/11/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Canada’s central bank has cut interest rates for the fifth consecutive time to 3.25 per cent as the country’s economy grows at a slower rate than projected. ... More
Canadian homeowners consider switch to variable rate mortgages after big rate cut
10/24/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
More Canadian homeowners are considering switching to variable rate from fixed rate mortgages after an unusually large interest rate cut by the central bank on Wednesday, mortgage ... More
Bank of Canada slashes rates, says monetary policy has worked
10/23/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada on Wednesday reduced its key benchmark rate by 50 basis points to 3.75%, its first bigger-than-usual move in more than four years, and hailed signs the country ... More
Former Bank of Canada Official Sees Jumbo Rate Cut in October
10/7/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
An ex-member of the Bank of Canada’s governing body said officials should cut borrowing costs by half a percentage point later this month. ... More
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% ... More
Is breaking your mortgage for a lower rate worth the prepayment penalty?
9/22/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost? ... More
Bank of Canada to Start Jumbo Rate Cuts by December, CIBC Says
9/12/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
One of the country’s biggest lenders says the Bank of Canada will accelerate the pace of monetary easing in order to stave off recession. ... More
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
Bank of Canada makes third rate cut in a row
9/4/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada has cut its policy rate by a further 25 basis points in its September decision, marking a third consecutive move to bring rates lower. ... More
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
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
Bank of Canada cuts key interest rate to 4.5% with hints of more to come
7/24/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle. ... More
Bank of Canada cuts key rate for first time in more than 4 years
6/5/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada has cut its overnight rate by 25 basis points, a move not seen since the beginning of the pandemic. ... More
June rate cut still a "close call" despite lower inflation in April
5/21/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Canada's headline inflation rate continued to ease in April, leaving the door open to a Bank of Canada rate cut next month. ... More
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. ... More
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 ... More
Variable or short-term fixed mortgage? Where experts see the "sweet spot"
3/13/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More
Bank of Canada expected to hold interest rates this week as grey cloud hangs over economy
3/4/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada is expected to preach patience at its interest rate announcement this week as economists say weakening economic conditions are setting the stage for rate cuts ... More
Market participants still expect the first Bank of Canada rate cut in April
2/5/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Despite push-back from the Bank of Canada against aggressive rate-cut predictions, a majority of influential economists and analysts still expect rates to start falling by April. ... More
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. ... More
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 ... More
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. ... More
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
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 ... More
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 ... More
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 ... More
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 ... More
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. ... More
Canadians' mortgage borrowing hits lowest level since 2003
6/15/2023 | Posted in Financial Health by Jessi Sandhu
Canadians' mortgage borrowing has reached its lowest level since 2003, primarily due to the impact of higher interest rates, according to recent data released by Statistics ... More
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 ... More
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