Mortgage News

Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID-19

Posted on Mar 18, 2020 in Mortgage News

Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID-19Canada’s six largest banks today announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID-19.

Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case-by-case...

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Interest Rates Nosedive as Bank of Canada Cuts Rates 50 bps

Posted on Mar 06, 2020 in Mortgage News

Mortgage Rate News & ForecastFollowing yesterday's surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signaled it is poised to do more if necessary. 

The BoC lowered its target for the overnight rate by 50 bps to 1.25%, suggesting that "the COVID-19 virus is a material negative shock to the Canadian and global outlooks." This i...

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Bank of Canada Interest Rate Announcement

Posted on Mar 04, 2020 in Mortgage News

Canadian Interest Rate AnnouncementThe Bank of Canada lowered its overnight rate by 50 basis points this morning to 1.25 per cent. This move is part of a coordinated action by global central banks to guard against the negative consequences of the Coronavirus outbreak. In its statement, the Bank noted that although the Canadian economy is operating near potential and inflation is at...

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Mortgage Rate Forecast 2020

Posted on Dec 11, 2019 in Mortgage News

Mortgage Rate Forecast 2020

As the year ends, it's worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve was its usual upward sloping shape, with markets expecting gradual rate increases by the Bank of Canada. Based partly on those expectations, Canadian mortgage rates were climbi...

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Bank of Canada Interest Rate Announcement

Posted on Oct 30, 2019 in Mortgage News

The Bank of Canada held its overnight rate at 1.75 per cent this morning.


In the statement accompanying the decision, the Bank noted that ongoing trade conflicts have weakened the global economic outlook, which is expected to drag Canadian economic growth below its potential in the second half of this year. The bank is further projecting that growth...

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