What are Bank of Canada Rates? Here’s what you need to know about the Overnight Lending rate, Prime rate and Qualifying rate.
No change was announced today for central interest rates – the Bank of Canada is sticking to status quo, as the impact of dropping oil prices is still being felt throughout the economy. Here’s what consumers should know.
Are you ready for the busiest home-buying season of the year? Spring has certainly sprung for the Canadian real estate market, as open houses pop up faster than the crocuses. Perhaps the most telling sign: Bank of Montreal, the big-bank trendsetter, has introduced a “March miracle”: a history-making rate for new mortgage borrowers that has since been matched by TD.
The Bank of Canada could change interest rates again in what has been an unpredictable year for rate watchers.
The Bank of Canada has maintained the Overnight Lending rate at 0.75%, with no additional cuts to Prime in store. Here’s how this could affect your mortgage.
A Bank of Canada March rate cut is looking less likely as Governor Stephen Poloz hints that January’s movement is still being absorbed by the economy. Meanwhile, the U.S. Fed is holding off on hiking their rates as global economic factors remain shaky.
The Bank of Canada has cut the Prime rate to 0.75% from 1%. What does this mean for your mortgage rate and the economy?
It’s widely expected that US interest rates will rise this year, which would traditionally set the stage for Canada’s rates to follow suit – which is why consumers here should be aware of the economic factors affecting our American neighbours.
2014 may be drawing to a close, but speculation regarding this year’s mortgage market is far from over. Economists and home buyers alike are waiting with baited breath to see if 2015 will usher in change for borrowing costs and the housing market. To better understand the market’s future direction, we’ve looked to the past; read on for the strongest trends seen within the mortgage market in 2014.
INFOGRAPHIC: It’s been a very eventful year, as lenders continued to compete with record-low offerings – a silver lining as the overall affordability of housing dwindled in our nation’s biggest markets – all while speculation raged that central rates would rise at any moment. Catch up on the action with our annual Mortgage Moments of 2014!