Friday Mortgage Round Up: July 20th, 2012
Mortgage News / Mortgages

Friday Mortgage Round Up: July 20th, 2012

This week we saw the Bank of Canada stick to their guns, announcing they would hold their rate of 1 per cent in their July announcement. In new mortgage rule news, lenders are responding to the guidelines in different ways, with some banks applying limitations to their conventional mortgage products as well – and credit unions may provide options for those looking to skirt the new HELOC and cash-back mortgage rules. Continue reading »

Friday Mortgage Round-Up:  June 1st, 2012
Mortgage News / Mortgages

Friday Mortgage Round-Up: June 1st, 2012

May’s been a busy month for Government of Canada 5 Year Benchmark Bond Yields – they’re currently sitting at the lowest rate in 4 months! Why all the activity? Global markets are the main factor behind these levels. As uncertainty continues to plague global economic markets, both Canadian and international investors are turning to the resilient Canadian marketplace – and Government-backed bonds. Continue reading »

Bank of Canada Maintains Overnight Rate Target at One Per Cent
Economic News / Mortgage News / Mortgages

Bank of Canada Maintains Overnight Rate Target at One Per Cent

Today the Bank of Canada announced that once again (for the 13th consecutive time over the past 19 months) that there will be no change to the overnight lending rate. This pleases variable rate mortgage holders since there are no alterations to the bank’s Prime lending rate and therefore no increase to their own mortgage rate and monthly mortgage payments. Continue reading »

Bank of Canada Announces No Change to Overnight Lending Rate
Economic News / Mortgage News / Mortgages

Bank of Canada Announces No Change to Overnight Lending Rate

Variable mortgage holders can rest easy knowing that their mortgage payments are not expected to increase any time soon. Once again the Bank of Canada announced that they will leave the target overnight lending rate constant at 1%. This means that Prime rates will also stay the same and therefore variable mortgage rates. The Bank of Canada stated the following reasons for holding the course: Continue reading »

Canada is Not The Master of its Destiny
Economic News

Canada is Not The Master of its Destiny

Bank of Canada Governor Mark Carney continues to use the slowdown in the global economy as a crutch to leaving rates near historic lows. He’s again pointing the finger firmly at the European debt crisis indicating he can’t raise rates until the continent is able to gets its issues under control. For the first time he is using the R-word and hinting we could see a “brief recession” in Europe. Continue reading »

Bank of Canada Announced No Change to Interest Rates
Economic News / Mortgage News / Mortgages

Bank of Canada Announced No Change to Interest Rates

The Bank of Canada met this morning and as many experts predicted, including our Mortgage Rate Outlook Panel members, the key overnight lending rate will stay where it is at 1%. This means that the Prime Rate is also unchanged at 3%, and that variable mortgage rate holders don’t have to worry about payment increases just yet. Continue reading »