Know Your Mortgage Before You Sign on the Dotted Line A client friend called me today to see if it was a good time to convert her adjustable rate mortgage into a fixed rate. She told me that her sister had a mortgage at RBC and had just been offered a fixed rate of 4% […]
Converting Your Adjustable/Variable Rate Mortgage Read More »
Economic news this week further endorses BoC holding rate steady “Ongoing excess supply” in the economy has yielded stable prices. Any fear of inflation seems to be subdued by this and the mess in Europe. Rates continue stable. The last time BoC altered it’s rate was September 2010. Bank rate remains at 1%, Prime rate
Bank of Canada Makes No Change in Key Rate Last Week Read More »
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economy has slowed markedly as several downside risks to the projection outlined in the Bank’s JulyMonetary
Bank of Canada Maintains Overnight Rate Target at 1% Read More »
Not Changing Key Rate For Awhile The Bank of Canada (BoC) this summer decided to leave their key overnight lending rate alone at 1%, and thus leaving the Canadian Prime Rate at 3%. BoC is between a rock and a hard place: concerned about curbing Canada’s economic expansion (which has been hit by the slowdown
Bank of Canada Summer 2011 Read More »
Bank of Canada decides to hold key rate “as is” yesterday. BoC is concerned with the potential issues of a lingering strong $CDN vs. $US. Inflation should stay in check for foreseeable future, because of the strong $CDN. Prices of imported goods should partially offset higher gas prices at the pumps. Key overnight lending rate
Bank of Canada Holds the Line on Key Rate Read More »
Bank of Canada Leaves its Key Rate Alone and Bond Rates Seemed to Have Peaked On March 1st the Bank of Canada (BoC) decided to leave their key overnight lending rate alone, thus influencing the Prime interest rate the same. It does not seem likely that the BoC will raise rates anytime soon especially given the
The Bank of Canada (BoC) today announced that they will be leaving their Key Overnight Lending Rate at 1% therefore influencing the Prime lending rate with major institutions to stay the same at 3%. This is the second announcement in a row that BoC has done so. The bottom line is that because inflation seems
Bank of Canada Announces No Change to Bank Rate Read More »
The Bank of Canada is concerned about the strong Canadian dollar affecting the pricing of goods and services to export customers. The U.S. economy remains sluggish and foreclosures of residential properties there remain very high. Economist generally believe that a consumer led expansion will be the only true way out of recession in the U.S.
Bank Rate Watch: What Will the Bank of Canada decide? Read More »
Bank of Canada leaves rate as is, although it signaled that they will begin raising it sooner than later, i.e. June rather than July 2010. The extent and timing of increases will depend upon the economic outlook, and more specifically targeting a 2% inflation rate. There are three considerable reasons existing why the bank rate
Bank Rate/Variable Rate Watch Read More »
OTTAWA — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. The global economic recovery is under way, supported by continued improvements in financial conditions and stronger
Bank of Canada Maintains Overnight Rate Target at 1/4 per cent Read More »
