News Archive

More than a third of all U.S. home mortgages granted in 2006 went to people who already owned at least one house, according to the report. In Arizona, California, Florida and Nevada, where average home prices more than doubled from 2000 to 2006, investors made up nearly half of all mortgage-backed...

"Ongoing excess supply" in the economy has yielded stable prices. Any fear of inflation seems to be subdued by this and the mess in Europe. Rates continue stable. The last time BoC altered it's rate was September 2010. Bank rate remains at 1%, Prime rate 3%.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Ideas previously extolled in media about rate hikes this year are completely unfounded now. 1.) Strength in Canadian currency, 2.) no sign of inflation, 3.) slower Canadian economy than previously thought. It all adds up to extended period of low rates. This could change quickly though. Key BoC rate remains at...

The Bank of Canada (BoC) this summer decided to leave their key overnight lending rate alone at 1%, and thus leaving the Canadian Prime Rate at 3%. BoC is between a rock and a hard place: concerned about curbing Canada's economic expansion (which has been hit by the slowdown in US)...

Bank of Canada decides to hold key rate "as is" yesterday. BoC is concerned with the potential issues of a lingering strong $Cdn vs. $US. Inflation should stay in check for foreseeable future, because of the strong $Cdn. Prices of imported goods should partially offset higher gas prices at the pumps....

Cheryl Hutton and Aaron Coates relax in their new home in Calgary. The first-time homebuyers never thought they would qualify for a mortgage. Cheryl Hutton and Aaron Coates always thought getting a mortgage would be a challenge. But within 18 days of visiting a mortgage broker, they were able to close...

On March 1st the Bank of Canada (BoC) decided to leave their key overnight lending rate alone, thus influencing the Prime interest rate the same. It does not seem likely that the BoC will raise rates anytime soon especially given the strength of the Canadian dollar. In the matter of global...

Today the Canadian Finance Minister (Flaherty) announced additional tightening of rules for government backed (insured) mortgages...

At recent CAAMP (Canadian Association of Accredited Mortgage Professionals) conference in Montreal, Benjamin Tal, CIBC economist said that the most significant event that will come out of the current extended period of low interest rates will be....

The Bank of Canada (BoC) today announced that they will be leaving their Key Overnight Lending Rate alone at 1% therefore influencing the Prime lending rate with major institutions to stay the same at 3%. This is the second announcement in a row that BoC has done so...

...leave key overnight lending rate alone. The Bank Rate will remain at 1% and the Prime Rate at major Canadian lending institutions will remain at 3%. The Canadian economy is not growing as was previously forecasted by Bank of Canada, and the Canadian dollar has grown in strength against the U.S....

On September 8th the Bank of Canada announced a quarter point increase in their Key Overnight Lending rate to 1%. This now sets the Prime rate of interest at major financial institutions at 3% from 2.75%. Economists are mixed in their opinions on the BoC's action. Immediately after the BoC made...

• There are approximately 9.3 million homeowners in Canada, including about 5.55 million with mortgages.

• Almost 80 per cent of young borrowers have opted for a fixed rate mortgage or a mortgage that combines fixed and variable rates.

• A small number of mortgage consumers (17 per cent) have amortization periods of...

Bank of Canada leaves rate as is, although it signaled that they will begin raising it sooner than later, i.e. June rather than July 2010. The extent and timing of increases will depend upon the economic outlook, and more specifically targeting a 2% inflation rate. There are three considerable reasons existing...

Today Jim Flaherty (Finance Minister) announced amended rules on insured mortgages which will take effect on April 19, 2010.

The Fed met this week on monetary policy. It was a bit of a snoozer. What a snoozer, however, was what they've included in their recent monetary policy statements regarding currencies.

Most market participants have been entranced by the Fed's language about their target interest rates ...

Will they say they'll keep rates...

The Canadian housing market has sprinted into a new year at top speed. Existing home sales reached the highest level ever for a December in 2009.

As per the Canadian Real Estate Association (CREA), December 2009 residential sales were 27,744 units, which is 72% higher than December 2008. Last year CREA...

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010

The housing market that led Canada out of recession is now so hot that Ottawa is talking about doing something to cool it off, a move economists say carries risks for the economy.

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010

Benjamin Tal kept an optimistic tone during his talk at the annual CAAMP conference, saying the recession is over, business bankruptcies are down, and key interest rates in Canada could remain low well into next year depending on when U.S. rates rise.

A number of Canadians, with the deal of a lifetime on a variable-rate mortgage, are switching over to a more expensive fixed-rate product and paying the extra freight.

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010

Tim Cestnick is managing director at WaterStreet Family Wealth Counsel and author of 101 Tax Secrets for Canadians.