Bank of Canada Increases Overnight Rate by 0.25%
The Bank of Canada raised its overnight rate from 0.25% to 0.50%. This move marks the first increase since 2018 and shows that rates are going to start modestly inching higher. Borrowing costs [...]
Bank of Canada holds benchmark interest rates steady
Bank of Canada holds benchmark interest rates steady The Bank of Canada made its sixth interest rate decision of the year and left its overnight benchmark rate at 0.25%. This rate has been in [...]
Bank of Canada key interest rate announcement, no change
The Bank of Canada has made their fourth interest rate decision of 2021, keeping the key interest rate steady at 0.25%. This rate has remained unchanged since March 2020. The Bank of Canada [...]
What does the new mortgage stress test mean?
The Office of the Superintendent of Financial Institutions (OSFI) implemented a change to the mortgage stress test. As of June 1, 2021 borrowers have to qualify at the greater of the lenders [...]
Bank of Canada announcement, the overnight rate remains steady
The Bank of Canada has made its third interest rate decision of the year. The announcement comes just as Statistics Canada reported their consumer price index was higher year over year and as [...]
Fixed rates are going up, Variable rates remain low
The Bank of Canada announced yesterday it will be maintaining their current level of policy rate until the inflation objective of 2% target is achieved. This is great news for those of you in a [...]
Bank of Canada 2021 Interest Rate Announcement Schedule
The Bank of Canada announced their schedule of interest rate announcements for 2021. The rate decisions they make on these dates can have a direct effect on the prime rate used for variable rate [...]
Bank of Canada Maintains Current Policy Rate
On December 9th the Bank of Canada announced there are no changes to their current overnight rate policy. They will continue with the Quantitative Easing (QE) Program at it’s current pace [...]
Bank of Canada will maintain current benchmark rate at 0.25% and rates to remain low for a long time.
Today, the Bank of Canada announced it would be maintaining it’s overnight benchmark rate, the main tool used by the BoC to conduct monetary policy, at 0.25%. This announcement has [...]
Mortgage rates may finally be bottoming out in Canada, new report says
The average price of a home across the country continued to climb in 2016 but any savings Canadians are getting from mortgage rates are getting smaller, according to a new survey.
