Mortgage News

The Bank of Canada Slowed the Pace of Monetary Tightening

Posted on Oct 28, 2022 in Mortgage News

Rising Mortgage Rates - Vancouver Real Estate MLS ListingsThe Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure on lon...

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Bank of Canada Interest Rate Announcement -October 26, 2022

Posted on Oct 26, 2022 in Mortgage News

Fastest Mortgage Rate Change - 30 YearsThe Bank of Canada raised its overnight policy rate by 50 basis points, bringing it to 3.75 per cent, its highest level since 2008. In the statement accompanying the decision, the Bank noted that the Canadian economy continues to operate in excess demand and tight labour markets and as a result inflation remains elevated. Sharply higher interest ra...

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BC Real Estate Association - Mortgage Rate Forecast

Posted on Sep 23, 2022 in Mortgage News

Mortgage Rate Outlook

Volatility continued in the Canadian mortgage market over the third quarter. Financial markets are currently digesting a complex economic environment as still high, though perhaps peaking, inflation collides with anxiety over a potential recession. That anxiety has expressed itself as volatility across Canadian bond markets wit...

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Bank of Canada Interest Rate Announcement - September 2022

Posted on Sep 07, 2022 in Mortgage News

Bank of Canada Rates - Vancouver Real EstateAs was widely expected, the Bank of Canada raised its overnight policy rate by 0.75 basis points, bringing it to 3.25 per cent. In the statement accompanying the decision, the Bank noted that while CPI inflation eased somewhat in July, that easing was due only to a fall in gasoline prices and more broad-based measures of price growth like core infl...

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Bank of Canada Interest Rate Announcement -July 13, 2022

Posted on Jul 13, 2022 in Mortgage News

Vancouver Real Estate MLS Listings Mortgage RatesThe Bank of Canada surprised markets with a larger than expected full point increase in its overnight rate, bringing its key policy rate to 2.5 per cent. In the statement accompanying the decision, the Bank noted that inflation is higher and more persistent than the Bank expected and will likely trend near 8 per cent through the summer before easin...

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Bank of Canada Interest Rate Announcement

Posted on Apr 13, 2022 in Mortgage News

The Bank of Canada raised its overnight policy rate by 0.5 per cent to 1 per cent. This was the first rate increase of more than 0.25 per cent since May 2000. The Bank will also begin so called "quantitative tightening" , meaning it will be shrinking its balance sheet over time, reversing the expansion that occurred in response to the pandemic. In...

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