Bank of Canada decides to hold key rate “as is” yesterday. BoC is concerned with the potential issues of a lingering strong $CDN vs. $US. Inflation should stay in check for foreseeable future, because of the strong $CDN. Prices of imported goods should partially offset higher gas prices at the pumps. Key overnight lending rate […]
Bank of Canada Holds the Line on Key Rate Read More »
Bank of Canada Leaves its Key Rate Alone and Bond Rates Seemed to Have Peaked On March 1st the Bank of Canada (BoC) decided to leave their key overnight lending rate alone, thus influencing the Prime interest rate the same. It does not seem likely that the BoC will raise rates anytime soon especially given the
The Bank of Canada (BoC) today announced that they will be leaving their Key Overnight Lending Rate at 1% therefore influencing the Prime lending rate with major institutions to stay the same at 3%. This is the second announcement in a row that BoC has done so. The bottom line is that because inflation seems
Bank of Canada Announces No Change to Bank Rate Read More »
The Bank of Canada is concerned about the strong Canadian dollar affecting the pricing of goods and services to export customers. The U.S. economy remains sluggish and foreclosures of residential properties there remain very high. Economist generally believe that a consumer led expansion will be the only true way out of recession in the U.S.
Bank Rate Watch: What Will the Bank of Canada decide? Read More »
Prudence Paying Off For Canadian Mortgage Borrowers – Spring 2010 • There are approximately 9.3 million homeowners in Canada, including about 5.55 million with mortgages. • Almost 80 per cent of young borrowers have opted for a fixed rate mortgage or a mortgage that combines fixed and variable rates. • A small number of mortgage
Significant Statistics Read More »
Bank of Canada leaves rate as is, although it signaled that they will begin raising it sooner than later, i.e. June rather than July 2010. The extent and timing of increases will depend upon the economic outlook, and more specifically targeting a 2% inflation rate. There are three considerable reasons existing why the bank rate
Bank Rate/Variable Rate Watch Read More »
Today Jim Flaherty (Finance Minister) announced amended rules on insured mortgages which will take effect on April 19, 2010. 1.) Clients who chose a variable (or adjustable rate) mortgage will need to be qualified on a five year fixed rate. Currently there are no lenders in the market that qualify borrowers on the variable rate
Canada Amends Rules on Insured Mortgages Read More »
The Canadian housing market has sprinted into a new year at top speed. Existing home sales reached the highest level ever for a December in 2009. As per the Canadian Real Estate Association (CREA), December 2009 residential sales were 27, 744 units, which is 72% higher than December 2008. Last year CREA reported the lowest
Busy December Home Sales Sets Canadian Record Read More »
OTTAWA — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. The global economic recovery is under way, supported by continued improvements in financial conditions and stronger
Bank of Canada Maintains Overnight Rate Target at 1/4 per cent Read More »
The Canadian economy should emerge from recession during the second half of the year as stimulus measures take effect, setting the stage for interest rate hikes in a year, a Reuters poll showed on Wednesday. The quarterly economic survey of 20 economists, conducted in the days before the Bank of Canada made an expected rate
Canada economy to recover in second half: economists Read More »
