Today, Wednesday June 3rd, the Bank of Canada (BoC) made its sixth interest rate announcement this year, the first under its newly appointed Governor Tiff Macklem. The BoC has repeatedly stated that it has no intention of reducing the rate below its where it is at currently: 0.25%. The BoC did state that the impact […]
BoC Bank Rate Announcement – Wednesday June 3rd, Tiff’s first Read More »
The Bank of Canada (BoC) just announced an unscheduled Key Rate cut of 0.5% (one half of one percent) in response to the anticipated drag on the economy that will be caused by the Corona Virus (Covid-19). This should immediately affect major FI’s (financial institutions’) Prime rate(s) of interest offered for lending purposes. The new
Unscheduled Bank of Canada Rate Cut – Response to Covid-19 Pandemic, March 13, 2020 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 »
