The Bank of Canada (BoC) has hiked its benchmark interest rate to 0.75 per cent from 0.5 per cent, its first increase in nearly seven years (Sept 2010), with expectations for stronger economic growth this year. This is somewhat of an experiment, heavily influenced by the U.S.’s rate hikes recently. If anything, the BoC wants […]
BoC rate hike…an experiment? Read More »
Canada’s central bank (Bank of Canada) announced today that it will leave its target for the key overnight rate unchanged at 0.5%. It has remained unchanged since middle of 2015. The Canadian economy is not showing signs of requiring more or less stimulus. The Bank’s announcement included an indication that there could be a change
Central Bank Leaves Key Rate Unchanged, Decides to Remain on Sidelines Read More »
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 »
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 »
