This week, on its scheduled date; Wednesday April 12th, the BoC decided to hold the line on any change to the key overnight lending rate that it controls for settlement between major Canadian FI’s. Subsequently the prime rate with major Canadian FI’s has not moved. In recent months the US counterpart to BoC (the US […]
Bank Rate Watch – April 12, 2017 Read More »
Three people to whom you can confide everything: a) Your Priest b) Your Doctor c) Your INDEPENDENT Mortgage Broker… not your Bank!
Who Can You Trust? Read More »
The Bank of Canada (BoC) yesterday announced no change in their Key Overnight Lending Rate again. This is the rate that banks use to settle accounts daily and the rate that Canadian Prime is based upon. The last change in the Key Rate was July 2015 when the rate dropped to its current level of
BoC Leaves Key Rate Alone Again Read More »
Much has happened with interest rates, the lending market and investing since our last update several weeks ago. We thought it important to wait and confirm this week’s move by the U.S. Federal Reserve (the U.S.’s equivalent of the Bank of Canada) before further comment. Here is what is important to know: 1.) On
U.S. Fed & Trump More Important to Canadian Rates than Bank of Canada Right Now Read More »
Today the Bank of Canada has announced that it will leave their Key (overnight lending) rate alone at 0.5%. The BoC has also changed their growth projections for the Canadian economy. The last time that the BoC changed the Key overnight rate was July 15, 2015. The US economy continues to regain momentum, the same
The Bank of Canada almost cut its Key Rate today. Read More »
The Office of the Superintendent of Financial Institutions (OSFI) issued a letter this morning to all federally regulated financial institutions (FRFI). The letter expresses concern about the rising levels of household debt in Canada and serves to remind FRFIs of their obligations under Guidelines B-20 and B-21 to assess and underwrite mortgage loans and mortgage
OSFI Tightens Supervisory Expectations for Mortgage Underwriting Read More »
by Buzz Grant The Office of the Superintendent of Financial Institutions (OSFI) issued a letter this morning to all federally regulated financial institutions (FRFI). The letter expresses concern about the rising levels of household debt in Canada and serves to remind FRFIs of their obligations under Guidelines B-20 and B-21 to assess and underwrite
Boring Bank of Canada Announcement Foretells Wild New Things In World Economy Read More »
The Bank of Canada (BoC) today announced that it is maintaining its target for the overnight rate at 1/2 per cent. Correspondingly, major financial institutions Prime rates should be staying at 2.7%, or 2.2% above BoC’s Key rate. Inflation remains under control in the eyes of the BoC and global economic growth remains weaker than
Bank of Canada Maintains Key Rate Read More »
The Bank of Canada (BoC) today has announced that it will leave their key overnight lending rate alone at 0.5%, therefore the Prime Rate of lending used by major Canadian FI’s for lending to their best business customers should remain at 2.7%. The BoC believes that a Canadian economic upturn is occurring and that its
BoC September 2015 Announcement Read More »
Today the Bank of Canada (BofC) announced (its fourth of 8 scheduled announcements for the year) that it will not be changing its benchmark key lending rate which directly affects the Prime rate of lending for major FI’s (financial institutions). BofC’s benchmark rate will stay at 0.75% and the Prime rate will likely remain at
Mortgage Logic Rate Watch – Bank of Canada leaves Key Rate untouched Read More »
