Mortgage Logic

interest rates

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 …

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June 1 2022 – Bank of Canada Raises Key Rate – How To Survive and Thrive Post Recession.

June 1 2022, the Bank of Canada raises Key Rate. Today the Bank of Canada (BoC) decided to raise its key rate by 0.50% to 1.50%, which will cause the Prime Rate at major Financial Institutions (FI’s) to increase the same to 3.70%.  Economists are now mentioning the word “stagflation” which we have not heard …

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Annual Surtax on High Value Houses…A Really Bad Idea for the Canadian Housing Market & Economy

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 …

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Bank of Canada Regularly Scheduled Rate Announcement Today – April 15, 2020

Today was a regularly scheduled announcement date for the Bank of Canada (BoC). After an unprecedented month of March when the BoC chopped their key rate three separate times for a total decrease of 1.5%, there was no change in their key rate today. The BoC press release today was very important and I encourage …

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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 …

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