On Wednesday December 11th at its regular policy meeting, the Bank of Canada (BoC) reduced the policy rate by 0.50 per cent, bringing it down to 3.25 per cent. This is the fifth rate drop in a row from the BoC (all happening since June), and this rate reduction will cause banks and mortgage lenders to cut their consumer prime… Read More »
Trump Wins US Election: How Does The Coming Trump Presidential Term Change Mortgage Rate Forecasts?
The short answer – no one knows yet. Why? Because during his campaign Trump has said so many different things and no one knows whether his boasts and promises are meant as policy statements or just rhetoric to fire up his crowds. For example, at different points in the last few months he has said he’ll implement a 10%, a… Read More »
Rate Update and Analysis – October 2024
On Wednesday October 23th at its regular policy meeting, the Bank of Canada (BoC) reduced the policy rate by 0.50 per cent, bringing it down to 3.75 per cent. This is the fourth rate drop in a row from the BoC (all happening since June), and as usual the rate reduction will quickly be passed through by banks and mortgage… Read More »
August Inflation Lower than Expected
For the first time since February 2021, Canada’s inflation came in at 2% in August – exactly on target where the Bank of Canada wants it to be. That is a significant drop from July when it came in at 2.5%, and it’s also lower than most economists were expecting. The most significant factor in the drop was gasoline prices,… Read More »
Rate Update and Analysis – September 2024
On Wednesday September 4th at its regular policy meeting, the Bank of Canada (BoC) reduced the policy rate by 0.25 per cent, bringing it down to 4.25 per cent. This is the third rate drop in a row from the BoC (all happening since June), and as before the rate reduction will quickly be passed through by banks and mortgage… Read More »
Rate Update and Analysis – July 2024
On Wednesday July 24th at their regular policy meeting, the Bank of Canada (BoC) announced another 0.25 per cent cut to the policy rate, bringing it down to 4.5 per cent. Banks and lenders will quickly pass this rate reduction through to their customers with variable rate mortgages and lines of credit. This is the second rate drop in a… Read More »
Rate Update and Analysis – June 2024
On Wednesday June 5th at their regular policy meeting, the Bank of Canada (BoC) has decided to reduce their Policy Rate by 0.25 per cent, making the new policy rate 4.75 per cent. Consumer lenders should quickly pass this rate reduction through to their customers with variable rate mortgages and lines of credit which are based on lender prime rates.… Read More »
Rate Update and Analysis – April 2024
On Wednesday April 10th at their regular policy meeting, the Bank of Canada (BoC) once more decided to keep their Policy Rate at 5 per cent. This means that lenders will hold their consumer Prime Rate steady at 7.20 per cent and there will be no changes to the payment amounts for variable rate mortgages or Lines of Credit. This… Read More »
Rate Update and Analysis – March 2024
On Wednesday March 6th at their regular policy meeting, the Bank of Canada (BoC) once more decided to keep their Policy Rate at 5 per cent. This means that lenders will hold their consumer Prime Rate steady at 7.20 per cent and there will be no changes to the payment amounts for variable rate mortgages or Lines of Credit. This… Read More »
Rate Update and Analysis – January 2024
On Wednesday January 24th at their regular policy meeting, the Bank of Canada (BoC) again decided to keep their Policy Rate at 5 per cent. This means that lenders will hold their consumer Prime Rate steady at 7.20 per cent and there will be no changes to the payment amounts for variable rate mortgages or Lines of Credit. This is… Read More »