Staying put before the election. Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. Economic outlook is weak. Comment made about justifying current mortgage rules. Next announcement is Oct 30, days after the federal election. “Given this composition of growth, the Bank expects economic activity to slow in the second half […]

Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. Sombre language used. The general speculation is that there is possibility of rate dropping. We will have to see if the boat will be rocked before the federal election. Next announcement September 4.

Summary of mortgage related items in the budget: The federal budget announced a new first-time home buyer incentive. It is essentially a ‘shared mortgage’ or interest-free loan to be repaid when the property is sold. Loan of 5% (existing home) or 10% (new build) of purchase price on insured purchases with minimum 5% and maximum […]

The Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. The mood of the announcement now paints a different picture than the last year’s hinting of increase. Now it says ‘CPI inflation to be slightly below the 2% target through most of 2019’, (typically above 2% mean they raise rate) and […]

Here is a great overview of what’s in store for 2019 from Dominion Lending Centres’ Chief Economist Dr. Sherry Cooper. She breaks it down for us so it is easier to understand. Important read as we enter a new year, it may help you with your financing and real estate investing decisions. Check out point […]

Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. Next announcement Mar 6. Bank of Canada states things more dampened than anticipated from their last October Monetary Policy report (..sounds familiar). Currently states inflation will return to around the 2% by late 2019 (which usually signals bump in rate). Here are […]

The Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. They state “…policy interest rate will need to rise into a neutral range to achieve the inflation target. The appropriate pace of rate increases will depend on a number of factors.” Next rate announcement scheduled Jan 9.