Mortgage Updates

Jan. 26, 2022

Bank of Canada Maintains Policy Rate

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½ % and the deposit rate at ¼ %. With overall economic slack now absorbed, the Bank has removed its exceptional forward guidance on its policy interest rate ...

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Sept. 7, 2021

Bank of Canada rate hike still seen a year away despite economic slump and election

Policymakers, who make a decision tomorrow, are in a trickier spot after economy's surprise contraction

Tiff Macklem, governor of the Bank of Canada. PHOTO BY DAVID KAWAI/BLOOMBERG

The Bank of Canada is still on course to raise interest rates to 0.50 per cent towards the end of next year, according to economists polled by Reuters, despite a surprise contraction in ...

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Posted in Mortgage Updates
Nov. 11, 2020

Bank of Canada Does Not Expect to Raise Interest Rates Until 2023

In a scheduled announcement on October 28,2020, the Bank of Canada maintained its overnight lending rate at 0.25%. The Bank noted economic headwinds are rising as the number of COVID-19 cases continues to rise across the country.

The Bank stated it will hold the policy interest rate at ...

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June 11, 2019

Debt blamed in credit crisis could help Canada with housing risk

The type of securities blamed for triggering a credit crisis in the U.S. a decade ago could now be part of the solution in Canada, where a cooling housing market is a key risk to its US$1.7 trillion economy.

The Bank of Canada is discussing ways to ...

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May 14, 2019

Economics estimates that the Bank of Canada will cut rates twice this year, dropping the benchmark rate to 1.25 per cent, from 1.75 per cent.

The Bank of Canada may be underestimating the extent of the cooling in the country’s housing market as well as its knock-on effects for the consumer-driven economy, according to research firm Capital Economics.

Sales of pre-construction units in Toronto and Vancouver slowed in 2018, making it harder for developers to ...

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May 7, 2019

Making Housing more Affordable: First-Time Home Buyer Incentive

The recent federal Budget proposed a series of incentives that demonstrates the government’s commitment to housing affordability, and CMHC is proud to take a leading role in many of them. We know that you’re particularly anxious for details regarding the new First-Time Home Buyers Incentive (FTHBI).

Affordable home ownership is ...

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April 30, 2019

Scrapping Mortgage Rules Would Boost Canadian Home Prices

The Canadian government should consider being flexible on its new mortgage lending rules because the impact has been longer-lasting and more significant than originally intended, Toronto-Dominion Bank says.

Home sales were about 40,000 lower between the final quarter of 2017 and the same period a year later than they ...

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April 25, 2019

Bank of Canada's Poloz poised to put rates on prolonged pause

Bank of Canada Governor Stephen Poloz is widely expected to cement expectations for a prolonged pause on interest rates on Wednesday, as the nation’s economy grapples with a slowdown.

All 24 analysts surveyed by Bloomberg see policy makers leaving the benchmark overnight rate at 1.75 per cent in a ...

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Posted in Mortgage Updates