Mortgage Logic

Canada economy

BoC Today – Are we at an End of a Rising Bank Rate Cycle?

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 »

BoC Rate Increase Today but Signs of Rates Plateauing

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 »

Bank of Canada raises its Key Rate by 0.75% today

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 »

Unscheduled Bank of Canada Rate Cut – Response to Covid-19 Pandemic, March 13, 2020

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 »