The Bank of Canada (BoC) has today decided to place a hold on any change in its Key Rate, and is holding at 4.5% (Prime rate of interest at major financial institution’s 6.7%) for the first time in nine announcements (March 2022). This is as opposed to the US Federal Reserve which has indicated clearly …
BoC decides to leave Key Rate as is Today, March 8, 2023 Read More »
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 »
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 …
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 »
Taxes have never achieved anything good for an Economy or a Society and certainly have never achieved the objective that they were originally dreamt up for. They are punitive and negative and discourage raising the overall standard of living for all. A new report backed by Canada’s national housing agency is calling for a home …
The Bank of Canada (BoC) made its eighth scheduled and presumably final interest rate decision for the calendar year. Economists and financial markets were on high alert for signs of changes to come next year and clues as to when. As expected again no change was made to the benchmark rate. It remains at 0.25% …
Bank of Canada Holds Benchmark Rate the Same in Their Final Decision of 2021 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 …
Not good news. This will definitely contribute to retracting the housing market and lowering consumer affordability. Ottawa still believes that there is a housing bubble. We believe that this is being heavily influenced by the pandemic support handouts and the extra debt & risk that will result for the federal government because of it. They …
Canada’s Mortgage Insurer Tightens Rules Effective July 1 Read More »
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 »
