Source: Tara Deschamps The Canadian Press, globalnews.ca, November 17, 2021 A rise in both mortgage and interest rates would end an almost two-year period of rock-bottom borrowing costs. Canadians are scrambling to get mortgage pre-approvals and rate holds before the era of low interest rates comes to an end, as some economists predict. Real estate… Continue reading Mortgage Pre-approvals Rate Hikes Looms
Tag: Bank of Canada
What the Hike in Interest Rates Means for Variable and Fixed Mortgage Rates
The Bank of Canada (BoC) has announced it’s keeping its trend-setting interest rate on hold for now, but borrowing costs for many Canadians are likely going up. Canada’s central bank has mentioned it is holding its key interest rate at 0.25 per cent, where it has been since March of 2020, hinting instead, that the first interest rate hike… Continue reading What the Hike in Interest Rates Means for Variable and Fixed Mortgage Rates
Bank of Canada holds key interest rate at 1.75%
Source: The Canadian Press, May 29, 2019 OTTAWA — The Bank of Canada is holding its key interest rate steady as its senior officials insist there are more signs the economy’s abrupt winter deceleration was short-lived. The central bank, as widely expected, kept its trend-setting rate at 1.75 per cent today — and governor Stephen… Continue reading Bank of Canada holds key interest rate at 1.75%
P.E.I. voted against electoral reform. Here’s where the movement for change will go next
Source: Amanda Connolly, Global News, April 24, 2019 The push towards electoral reform may not be dead in the water just yet, despite yet another referendum rebuff by Prince Edward Island voters on Tuesday. Instead, those involved in the movement say the focus is shifting from national and provincial politics to the grassroots level —… Continue reading P.E.I. voted against electoral reform. Here’s where the movement for change will go next
Bank of Canada holds interest rate, drops growth forecast for 2019
Source: The Canadian Press, April 24, 2019 OTTAWA — The Bank of Canada ditched its discussion of interest rate hikes Wednesday as it downgraded its 2019 growth forecast on a prediction the economy nearly ground to a halt at the start of the year. The central bank kept its key interest rate unchanged, as expected,… Continue reading Bank of Canada holds interest rate, drops growth forecast for 2019
Bank of Canada keeps key rate unchanged at 1.75 per cent
Source: The Canadian Press, December 5, 2018 The Bank of Canada today maintained its target for the overnight rate at 1.75 per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1.5 per cent. The central bank posted the announcement online Wednesday morning. Read full article here…. Image Source: THE CANADIAN PRESS/Adrian Wyld
Bank of Canada delivers another hike, key interest rate rises to 1.5%
Source: Erica Alini, Global News, July 11, 2018 Bank of Canada raises interest rates amid trade tensions As widely anticipated by economists, the Bank of Canada (BoC) raised its trendsetting policy rate to 1.5 per cent, up from 1.25 per cent on Wednesday. It was the fourth rate increase in the last 12 months. The central bank… Continue reading Bank of Canada delivers another hike, key interest rate rises to 1.5%
Bank of Canada widely expected to get back on its rate-hiking path
Source: Andy Blatchford, The Canadian Press, July 9, 2018 OTTAWA — After waiting for half a year, Stephen Poloz appears ready to get back on his rate-hiking path this week. Recent signals from the Bank of Canada governor, combined with strong economic data, have experts widely predicting Poloz will raise his trend-setting rate Wednesday from its… Continue reading Bank of Canada widely expected to get back on its rate-hiking path
28% of Canadians fear bankruptcy ahead of Bank of Canada decision
Source: Noah Zivitz, BNN Bloomberg, July 9, 2018 With just two days to go before an anticipated interest rate hike by the Bank of Canada, one of country’s top bankruptcy firms is warning a “staggering” number of Canadians are on the brink of financial disaster. Twenty-eight per cent of respondents to a new survey, which was… Continue reading 28% of Canadians fear bankruptcy ahead of Bank of Canada decision
Canadians owe $2T as central bank mulls rate hike
Source: Andy Blatchford, The Canadian Press, May 1, 2018 OTTAWA — Canadians have amassed a $2-trillion mountain of household debt that’s casting a big shadow over the timing of the Bank of Canada’s next interest rate hike, governor Stephen Poloz said in a speech Tuesday in Yellowknife. To Poloz, the “sheer size” of debt burden… Continue reading Canadians owe $2T as central bank mulls rate hike