The Bank of Canada (BoC) has raised its Key Overnight Lending rate by 25 basis points, bringing it to 4.50%, and the Prime rate of interest to 6.7%. This is the BoC’s eighth consecutive rate hike and was anticipated by markets and many economists. Looking ahead, the Bank said it “expects to hold the policy …
BoC Today – Are we at an End of a Rising Bank Rate Cycle? Read More »
The Bank of Canada today increased its target for the overnight rate to 4¼% impacting the Prime rate at major FI’s to increase to 6.45%. The Bank is also continuing its policy of quantitative tightening – releasing debt previously purchased from its balance sheet. This rate increase caps off a year of rate increases not …
BoC Rate Increase Today but Signs of Rates Plateauing Read More »
Today the Bank of Canada (BoC) raised its key rate by one-half of one percent (0.5%). Many experts were thinking that the BoC was going to announce a 0.75% increase and are now reading into the news that we may be near the end of tightening (raising) interest rates. The equity investing community would like …
Today the Bank of Canada has increased its key overnight lending rate to 3.25%, a 0.75% increase. Overall, this year the BoC has raised its key rate by 3.0% since March, rivaling the mid-1990s in rate increases. Per the BoC: “The Governing Council remains resolute in its commitment to price stability and will continue to …
Bank of Canada raises its Key Rate by 0.75% today Read More »
The Bank of Canada (BoC), today, announced a 1.0% increase in its Key Overnight Lending rate. This was 0.25% higher than the 0.75% increase that the market was expecting. This is the largest increase that BoC has made since 1998. The Prime interest rate with major Canadian financial institutions will likely increase from 3.7% to …
Today the Bank of Canada (BoC) raised its key rate by 50 basis points to 1.0%. The Prime Rate of interest at major Canadian FI’s will follow suit and raise their rates to 3.2% from 2.7%. Here is what’s important to know: 1.) Mortgages in Canada have been qualified at a rate that has hovered …
Bank of Canada raises Key Rate 0.5% – What You Need to Know Read More »
In a news releases today Genworth Canada and Canada Guaranty have both confirmed that they will not follow suit with Canada’s main mortgage insurer, CMHC, in tightening lending guidelines for mortgages. Genworth MI Canada Inc. (TSX: MIC) said: “it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit …
The Bank of Canada has decided to leave its key rate untouched (at 1.75%) with its announcement today. As expected, their hawkish view on ramping up rates has cooled off. Major FI prime rates will likely stay at 3.95%. The Canadian economy is not performing as expected right now for the following reasons: • Lower …
January 9, 2019 – Bank of Canada Makes No Change to its Key Rate Read More »
Three people to whom you can confide everything: a) Your Priest b) Your Doctor c) Your INDEPENDENT Mortgage Broker… not your Bank!
A client of ours recently wrote about their experience for others to benefit: “For us, dealing with someone we trusted who had extensive experience in the mortgage lending field was a necessity. Having worked in financial services for a while, I’m lucky to know a few good mortgage brokers, however if you don’t have anyone …
Stories from the Battle Front: Choose the Right Mortgage Broker Read More »
