Bank of Canada Interest Rate Announcement
Posted on Sep 10, 2021 in Mortgage News
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls "extraordinary forward guidance" in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent tar...Bank of Canada - Interest Rate Announcement
Posted on Jun 09, 2021 in Mortgage News
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls "extraordinary forward guidance" in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent tar...Insured and Uninsured Mortgage Stress Test Changes Confirmed for June 1
Posted on May 22, 2021 in Mortgage News
Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.The Office of the Superintendent of Financial Institutions (OSFI) confirmed on Thursday that it will move ahead with its stress test changes first announced last month, which will apply to uninsured mortgages...
Canadian 5-Year Bond Yield Surges
Posted on Feb 26, 2021 in Mortgage News
In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration's $1.9 trillion stimulus package is has triggered f...Bank of Canada Interest Rate Announcement
Posted on Jan 20, 2021 in Mortgage News
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank reiterated what it calls "extraordinary forward guidance" in committing to leaving the overnight rate at 0.25 per cent until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent tar...Bank of Canada Interest Rate Announcement
Posted on Dec 13, 2020 in Mortgage News
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank is also continuing its quantitative easing (QE) program, purchasing at least $4 billion of Government of Canada bonds per week and re-affirmed its forward guidance on future interests moves, committing to holding...