Falling mortgage rates over the course of 2019 have reduced the rate increase shock for those renewing a mortgage. While those renewing a mortgage this year are still locking in at a rate higher than their previous rate, that increase is quickly declining, according to data from the Bank of Canada. “The average household renewing […]
Tag: Bank of Canada
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.
A chain of possible mortgage rate increases in the very near future might endanger Canadian would-be home buyers’ purchasing power – and ultimately, their mortgage capacity, according to the Canada Mortgage and Housing Corporation.
The Bank of Canada has been hiking interest rates all year, and Canada’s big banks have been raising mortgage rates accordingly. The result? A nationwide deterioration in housing affordability, according to a new report from Desjardins.
The recent interest rate hikes along with the implementation of tighter mortgage rules have moderated the risk of debt for a growing number of borrowers, according to a Bank of Canada research note released last week.
Mortgage rules implemented over the past two years, along with rising interest rates, have worked to improve credit quality and reduce the number of highly indebted borrowers in the market.
The Bank of Canada’s decision to increase interest rates to 1.75% Wednesday was not a surprise to many, but an omitted word is perhaps more
National housing starts fell for the third consecutive month in October, in what some industry experts are calling a further sign that the Canadian housing
Canada’s steady trend of economic strength might justify even further hikes in the BoC’s interest rates, according to observers. The latest set of economic numbers
Improvements in the economy have led to the Bank of Canada’s governor Stephen Poloz vowing to increase interest rates but will September see a hike?
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