The Bank of Canada announced this week it will begin purchasing 10-year Canada Mortgage Bonds (CMBs), a move seen as paving the way for mortgage lenders to more easily offer lower-cost 10-year fixed mortgage rates to consumers.
Category: Bank of Canada
In a press conference following yesterday’s interest rate announcement, Bank of Canada Governor Stephen S. Poloz and Senior Deputy Governor Carolyn A. Wilkins discussed the reasoning behind the rate decision as well as the updated monetary policy report, as well as the effect that a so-called “insurance cut” would have.
The Canadian labour market is strong and wage growth is encouraging, but still, the Bank of Canada can’t seem to shake the feeling that something bad is going to happen.
The post Canadian interest rates will likely sink lower in 2020 appeared first on Livabl .
The Bank of Canada is preparing for its next interest rate announcement, but will it follow many of its global peers and make a cut?
Canadian mortgage borrowers have been waiting years for this moment.
This week the Bank of Canada’s qualifying rate declined, something that hasn’t happened since 2016.
The rate fell to 5.19 percent from 5.34 percent the previous week.
The benchmark posted 5-year fixed rate, which is used for stress-testing Canadian mortgages, fell yesterday in its first move since May 2018.
When the leaves start to turn and the mercury begins to drop, mortgage rates might be lower, too, one economist predicts.
The Bank of Canada will make two interest rate cuts during 2019 according to Capital Economics.
Earlier this week Bank of Canada Governor Stephen Poloz called on banks and other lenders to offer more innovative mortgage products, namely longer-term mortgages.
The Bank of Canada won’t be hiking its policy rate any time soon, says one economist — and that should be welcome news for mortgage borrowers with variable rates.
Global economic uncertainty means that the Canadian economy will still benefit from the boost that low borrowing costs can provide, according to the Bank of Canada’s Governor.
As part of the 2019 Budget handed down yesterday, changes for prospective homeowners
With Canada’s hottest housing markets cooler and the rock-bottom interest rates that fueled a household debt binge a thing of the past, some may wonder if the federal government’s mortgage stress testing is still needed.
The Bank of Canada for some time has been suggesting higher and higher interest rates are coming soon — until this week.
The Bank of Canada is unlikely to increase interest rates next week according to a panel of leading economists, which has also commented on Canadian housing policy.
Bank of Canada won’t hike mortgage-influencing policy rate ‘by much and not anytime soon,’ says economist
The unexpectedly weak Canadian housing market is one factor making it likely Bank of Canada Governor Stephen Poloz will take a less aggressive approach to interest rates this year, notes an economist with one of the country’s biggest banks.
For prospective homebuyers, there are several financial hoops to jump through on the way to property ownership: growing a healthy downpayment, securing a preapproval, and finding a home that fits within budget, to name a few.
The Bank of Canada has stepped to the sidelines since it last hiked the overnight rate, which influences rates on the mortgage market, this past October.
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