From Jacqueline Baker, Dominion
Lending
'The Bank of Canada today announced that it is maintaining its
target for the overnight rate at 1/4 per cent. The Bank Rate is
unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.
The ongoing global economic recovery is being driven largely by
strong domestic demand growth in many emerging-market economies and
supported in advanced economies ...
Via: The
Vancouver Sun
OTTAWA - Finance Minister Jim Flaherty tightened
mortgage rules on Tuesday and, in doing so, may have taken the
steam out of a housing market that had seen prices and sales
activity rise rapidly over the last year.
For most consumers, the changes are unlikely to make it more difficult to get a mortgage but it could reduce the size of the mortgage an individual consume ...
Via: The
Vancouver Sun
OTTAWA - The federal government is set to announce
new restrictions for Canadian mortgages on Tuesday, sources
say.
The rules are meant to prevent a housing crisis from happening in Canada as interest rates rise, leaving homeowners with mortgages they can no longer afford to pay.
Financial experts speculated last week that the measures may include reducing the minimu ...
With interest rates at an all-time low, many Canadians are taking advantage of the savings by refinancing their mortgages to consolidate debt, make home renovations, invest in real estate or other ventures, or moving up the property ladder.
Following are ways to take even further advantage of this excellent rate environment by paying down your mortgage faster.
Tip #1
Prepay early in the mo ...
The Bank of Canada today announced that it is maintaining its
target for the overnight rate at 1/4 per cent. The Bank Rate is
unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.
The Bank reiterated its conditional commitment to hold the current
policy rate until the end of the second quarter of 2010. The Bank
is of the opinion that the global economic recovery is underway.
Total C ...
The Bank of Canada kept its key lending rate at a record low as expected, cautioning that the strengthening currency could "fully offset" recent improvements in financial markets and consumer confidence, and prolong the recession. Policy makers also reiterated they have no plan to change the rate over the next year, and that they still have flexibility to use other measures should more stimu ...
Today, the Bank of Canada announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1/2 per cent in what is expected to be the last such conventional easing from the Bank.
This aggressive move by the Bank of Canada stems from the continued presence of the world-wide credit crunch which has immobilized the global financial system and has led to a rat ...
As many of your know, the federal budget was announced recently. The three main new programs that affect homeowners are:
Good morning,
Today the Bank of Canada (BoC) announced a 1/2 point drop in their
overnight rate to 1.00%. The Bank Rate is now at 1.25%.
The reasons for this rather aggressive (but expected) move can be
attributed to the continuing deterioration of the global economic
outlook and the continued and increasing consumer pessimism which
has eroded domestic demand. All the major economies are ...
The Bank of Canada (BoC) lowered their overnight rate by a further 0.25% to 2.25% at their scheduled meeting today. This brings a 0.75% cut to the overnight rate in the last 2 weeks.
The BoC cited 3 major interrelated aspects that have profoundly and negatively impacted the Canadian economy: