Another announcement of stability today came from the Bank of Canada. No surprise as Canada follows on the heals of the U.S. in monetary policy. No rate change by the BoC. This marks more than three years that the BoC’s key rate has stood at 1% and Canadian Prime rate at 3%. The talk now […]
More Beautiful Boring News from the Bank of Canada Read More »
As we get further away from the financial crisis of 2007/08 and the economy of the U.S. continues to get back on track we will slowly see interest rate pricing normalize for mortgages. This means that the difference in the pricing between fixed rate mortgages vs. adjustable rate mortgages (ARM’s) will again favour ARM’s, as
ARM Mortgages Making A Comeback Read More »
Today the Bank of Canada has, on it’s scheduled announcement date, decided to again leave their Key Overnight Lending Rate alone at 1%. This should in turn influence key Canadian financial institutions to leave their Prime lending rate(s) at 3%. We have a allot of respect for people that can take the driest of subject
B of C Rate Announcement – English Literature at its Finest Read More »
This month on its scheduled announcement date (March 6th) the Bank of Canada (BoC) again decided to leave its key overnight lending rate alone. It has been two and a half years since it has adjusted the rate that directly impacts the Prime Rate of interest, (which directly affects all businesses and consumers). BoC’s rate
Bank Rates – US & Canada – March 2013 Read More »
Know Your Mortgage Before You Sign on the Dotted Line A client friend called me today to see if it was a good time to convert her adjustable rate mortgage into a fixed rate. She told me that her sister had a mortgage at RBC and had just been offered a fixed rate of 4%
Converting Your Adjustable/Variable Rate Mortgage Read More »
Is it wise to draw equity from your property to: Buy real estate? Go on vacation? Invest in RSP’s? Invest in non-RSP’s? Spend on education? Consolidate debt? These are a sample of the most popular questions that are asked us as financial planning experts from the debt side of the ledger. With many years of
Is It Wise to Draw Equity from Your Property? Read More »
Going Overboard, Who Is Captain Of Canadian Mortgage Ship? Today the Canadian Finance Minister (Flaherty) announced additional tightening of rules for government backed (insured) mortgages. Last April 2010 he introduced rules that effectively reduced the ability for Canadians to leverage their homes and revenue properties. Today he focused solely on Canadians’ homes. The three sweeping
Finance Minister Tightens Insured Mortgage Rules Again In Less Than A Year Read More »
Unemployment not a concern of progressive means of production in US. At a recent CAAMP (Canadian Association of Accredited Mortgage Professionals) conference in Montreal, Benjamin Tal, CIBC economist said (paraphrased) that the most significant event that will come out of the current extended period of low interest rates will be the massive re-investment by manufacturers/exporters
US Manufacturers Will Come out of Recession Meaner & Leaner Read More »
3 March 2009, OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3/4 per cent. The outlook for the global
Bank of Canada lowers overnight rate target by 1/2 percentage point Read More »
