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Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

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...
The Mortgage Deferral Program is Over. Now What?

The Mortgage Deferral Program is Over. Now What?

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...
Have an Insured Mortgage? How Could CMHC Changes Affect You?

Have an Insured Mortgage? How Could CMHC Changes Affect You?

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...
If Your Mortgage Rate is 3% or Higher, Consider a Review

If Your Mortgage Rate is 3% or Higher, Consider a Review

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...
Bank of Canada Rate Announcement Dec 4th, 2019

Bank of Canada Rate Announcement Dec 4th, 2019

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...
Bank of Canada Rate Announcement Oct 30th, 2019

Bank of Canada Rate Announcement Oct 30th, 2019

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...
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