At 10 am EST the Bank of Canada (BoC) made its 10th interest rate decision announcement of the year. Eight scheduled announcements is the norm, but this has been a year of anything but normal. BoC has held the their key overnight lending rate the same at 0.25%, which it calls their “lower bound”, […]
December 9, 2020 Bank of Canada rate announcement Read More »
In a news releases today Genworth Canada and Canada Guaranty have both confirmed that they will not follow suit with Canada’s main mortgage insurer, CMHC, in tightening lending guidelines for mortgages. Genworth MI Canada Inc. (TSX: MIC) said: “it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit
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
Bank of Canada Regularly Scheduled Rate Announcement Today – April 15, 2020 Read More »
The Bank of Canada (BoC) today announced that it will not be making any changes at this time to their key rate, which directly affects the prime rate of interest with major financial institutions. They have cut their growth forecast to 1.3% from 1.7% for Q1 2020. Consumer spending and confidence is unexpectedly weak. BoC
Bank of Canada Rate Announcement January 2020 Read More »
Today the Bank of Canada (BoC), on their scheduled announcement date, decided to leave their key rate and not change it. They made it clear that there are no more thoughts of raising the rate this year. After taking stock of the past six months in the Canadian economy, they have no choice but to
Bank of Canada changes its thoughts from higher rate to lower rate Read More »
The Bank of Canada has announced today that it will leave its key policy rate alone at 1% for the time being. It notes that employment has risen and the Canadian economy is moving towards full capacity but it does not want to disturb the growth that has been realized this year after experiencing slower
Bank of Canada Announcement Shows Caution Read More »
Garry Marr, Financial Post Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn’t stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. A fear of rising rates
Don’t Handcuff Your Mortgage Read More »
