Interest rates

Interest rate change by Bank of Canada — again

Posted on Mar 30, 2020 in Interest rates

There have been three headlines this month that looked the same:
Bank of Canada lowers interest rate
That’s right, three times in ONE month. To be even more specific, three times in 23 days!
The first two rate changes were both 50 basis points, or half a per cent. So was the most recent one, on Friday, dropping the Bank of Canada’s overnight rate to 0...

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Mortgage rate cut — the whole 0.5 per cent?

Posted on Mar 05, 2020 in Interest rates

Today or tomorrow, Canadian banks are expected to announce changes to mortgage interest rates.
This comes after the Bank of Canada lowered its interest rate to the banks by 0.5 per cent. It’s unknown if the banks will pass the entire half-per-cent cut to consumers.
Given that banks are competitive, and given that this is the eve of the spring real es...

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Vancouver, Toronto markets ‘unique’ for interest-rate strategy

Posted on Jan 13, 2020 in Interest rates

In case you missed it, the Bank of Canada governor (Stephen Poloz) was in Vancouver last week to discuss a possible change in what the bank call its “overnight interest rate” and the implication of a change on housing markets.
It was clear that the Vancouver and Toronto markets are, well, unique and so is their impact should there be a rate change.
...

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