Global News ~ April 8th, 2024 Fears that the spring housing market could “overheat” will be in the background as the Bank of Canada readies for its interest rate decision on Wednesday, experts say. The spring housing market, which kicks off in March, is typically one of the busiest times… Read More
Category: News
Mortgage rates slide below 5% in time for spring
CMP Magazine ~ March 11th, 2024 Mortgage rates have started to decline, offering a glimmer of hope to prospective homeowners, especially as the spring housing market heats up. For the first time since the Bank of Canada’s rate hike in June last year, five-year fixed mortgages have dipped below 5% […]
Bank of Canada to cut interest rates in half by end of next year: Desjardins
Financial Post ~ February 24th, 2024 Canadians can expect the Bank of Canada to start providing some respite this spring as the central bank “slowly but surely” moves towards its first interest rate cuts, says Desjardins Group. Chief economist Jimmy Jean says Desjardins is forecasting the first rate cut in […]
Canada’s job market beats January expectations
Canadian Mortgage Professionals ~ Ferbuary 12th, 2024 Canada’s job market showed unexpected strength at the beginning of the year, with a surge in new jobs and a dip in unemployment, suggesting potential room for the Bank of Canada (BoC) to consider interest rate cuts if inflation pressures continue to wane. […]
What mortgage holders need to know about the Bank of Canada rate hold
BNN Bloomberg ~ January 24th, 2024 Homeowners are feeling the impact of elevated interest rates, real estate experts say, though the Bank of Canada’s latest rate hold will not raise mortgage payments for those with variable or fixed products. The Bank of Canada elected to hold its key policy rate […]
Canada’s inflation rate held at 3.1% in November. Here’s what happens next
Globe and Mail ~ December 19th, 2023 The big economic story for the coming year is the path of interest rates. With the U.S. Federal Reserve projecting three quarter-point cuts in 2024, naturally people are wondering how the Bank of Canada will handle this process – including those who are […]
Canadian economic outlook for 2024: Shifting into neutral
BDC.CA Despite persistently high inflation and rising interest rates, the news was generally better than expected for the Canadian economy in 2023. At this time last year, many economists wondered whether it was possible to stop the Canadian economy from overheating without causing a recession. Yet we now estimate 1.1% […]
With millions of mortgages coming due, finance minister expects banks ‘to work with’ Canadians
CBC ~ November 26th, 2023 Finance Minister Chrystia Freeland expects banks will follow a new series of rules and guidelines designed to protect Canadian homeowners, millions of whom are set to renegotiate loans at potentially higher rates. “The thing that I hear the most right now is people are concerned […]
Mortgage rates will start dropping sooner than expected. Here’s when — and why
Toronto Star ~ Saturday, November 11th, 2023 Interest rate relief is coming sooner than expected. As recently as last week, the consensus among economists was that the Bank of Canada (BoC) would not begin to cut interest rates until next September. But the latest jobs report, for October and released […]
Bank of Canada will cut rates over mortgage renewals
BNN Bloomberg ~ November 2nd, 2023 Risks related to looming mortgage renewals mean the Bank of Canada is done hiking interest rates, according to a prominent strategist who predicts rate cuts to come halfway through next year. “The bank is done raising rates,” Royce Mendes, head of macro strategy at […]
