by Nick alafogiannis | Dec 9, 2020 | Announcements
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented...
by Nick alafogiannis | Oct 23, 2020 | Announcements, Homeownership, Mortgage
The federal government introduced a six-month Mortgage Deferral Program – which officially wrapped up September 30th – to help Canadians stay in their homes while the job market recovered from COVID-19. With the deferral program coming to an end, stress has mounted...
by Peter Lirantzis | Jun 5, 2020 | Announcements, Blog, CMHC, Finance, Mortgage
The COVID-19 pandemic is having an impact on all sectors of Canada’s economy, including housing. Job losses, business closures and a drop in immigration are adversely affecting Canada’s housing markets, and CMHC foresees a 9% to 18% decrease in house prices over the...
by Peter Lirantzis | Mar 13, 2020 | Announcements, Blog, Economy, Homeownership, Mortgage
Concern surrounding coronavirus – COVID-19 – has led to a crash in oil prices and economic uncertainty surrounding capital markets, which has resulted in most Canadian banks significantly reducing both fixed- and variable-rate mortgage rates. Around the world...
by Peter Lirantzis | Dec 4, 2019 | Announcements, Blog, Mortgage
Bank of Canada maintains overnight rate target at 1 ¾ percent The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. The Bank’s October projection for global...
by Peter Lirantzis | Oct 30, 2019 | Announcements, Blog, Mortgage
The Bank of Canada today maintained its target for the overnight rate at 1 ¾ percent. The Bank Rate is correspondingly 2 percent and the deposit rate is 1 ½ percent. The outlook for the global economy has weakened further since the Bank’s July Monetary Policy Report...
