Bank of Canada

Bank of Canada

Your mortgage is about to get more expensive

The Bank of Canada raised its benchmark interest rate to 1.25 per cent Wednesday and signaled that, barring certain risks, more hikes are likely in the rest of the year. That’s creating an unusual situation for Canadians: for the first time in years, those renewing mortgages will be faced with higher rates and an increase in [...]

By | 2018-01-20T15:41:38+00:00 January 20th, 2018|Economy|Comments Off on Your mortgage is about to get more expensive

Canada won’t interfere in housing market — for now: Flaherty

OTTAWA — The Canadian government has no plans for now to clamp down on the housing market even though prices are rising again, Finance Minister Jim Flaherty said on Monday, but he pledged to investigate whether the price uptick looks to be more than temporary. Finance Minister Jim Flaherty says he will not only balance [...]

By | 2017-01-04T01:02:19+00:00 October 29th, 2013|Economy|Comments Off on Canada won’t interfere in housing market — for now: Flaherty

Why no rate hike means variable mortgages are safe again

A signal from the Bank of Canada that it is not raising its key lending rate any time soon, coupled with the likelihood of falling mortgage rates, could be enough to keep the latest housing rally going. There have been signs the housing market is in recovery mode with year-over-year sales rising in many markets, [...]

By | 2017-01-04T01:02:19+00:00 October 25th, 2013|Mortgage Products|Comments Off on Why no rate hike means variable mortgages are safe again

Bank of Canada drops rate-hike talk

The Bank of Canada has abandoned 18 months of warnings that interest rates will one day have to rise, saying on Wednesday that a soft economy and persistently weak inflation mean there is as much chance of a rate cut as a rate hike. The surprise policy shift, which knocked the Canadian dollar to a [...]

By | 2017-01-04T01:02:24+00:00 October 24th, 2013|Economy|Comments Off on Bank of Canada drops rate-hike talk

Overbuild Condo Market

An overbuilt and overpriced condominium market is posing a risk to Canadian households, banks and the economy in general, the Bank of Canada warned Thursday in its latest review of the health of the country’s financial system. The central bank particularly singles out the Toronto condo market, which it notes continues to carry a high [...]

By | 2017-01-04T01:02:26+00:00 June 13th, 2013|Economy, Uncategorized|Comments Off on Overbuild Condo Market

Bank of Canada maintains overnight rate target at 1 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Global economic growth has evolved largely as anticipated in the Bank's April Monetary Policy Report (MPR).  In the [...]

By | 2017-01-04T01:02:26+00:00 June 4th, 2013|Economy|Comments Off on Bank of Canada maintains overnight rate target at 1 per cent

Canada has room for more interest rate cuts: IMF

OTTAWA — While Canada’s economy should pick up later this year, there are external and domestic threats that, if unchecked, could make a case for more interest rate cuts, according to the International Monetary Fund. The IMF said in its annual report Thursday that Canada’s economy will grow by 1.8% in 2013, hobbled by a [...]

By | 2017-01-04T01:02:26+00:00 February 16th, 2013|Economy|Comments Off on Canada has room for more interest rate cuts: IMF