What the Bank of Canada’s 50-bps rate cut means for borrowers
Oct 23, 2024 · With the Bank of Canada announcing yet another interest rate cut—a half-point reduction this morning—its key policy rate has now fallen to a two-year low of 3.75%. This is …
Canada’s Secondary Suite Loan Program expands to $80,000 loans …
Dec 10, 2024 · Starting in early 2025, the Canada Secondary Suite Loan Program will double the loan limit from $40,000 to $80,000, making it easier for homeowners to finance the creation of …
Pros and cons of the new federal secondary suite programs
Oct 28, 2024 · Earlier this month, the federal government unveiled the Secondary Suite Refinance Program, set to launch January 15, 2025, which will allow homeowners to refinance up to 90% …
Canada’s prime rate: Latest updates, trends and historical data
Dec 11, 2024 · The prime rate is the interest rate that commercial banks charge their most creditworthy clients—typically large corporations. In Canada, the prime rate is closely tied to …
Why three big banks raised fixed mortgage rates despite falling …
Dec 2, 2024 · As regular readers of Canadian Mortgage Trends know, bond yields typically influence fixed mortgage rate pricing. However, that’s not the case right now. Several lenders, …
OSFI to eliminate stress test for uninsured mortgage switches …
Sep 25, 2024 · Why the change? This policy shift marks a departure from OSFI’s stance earlier this year. As recently as June, the regulator had doubled down on maintaining the stress test …
Odds of second 50-bps Bank of Canada rate cut drop after …
Nov 19, 2024 · The annual headline inflation rate for October climbed to 2.0%, exceeding the 1.9% economists had predicted and up from September’s 1.6% reading.
Two big banks predict 225 bps worth of BoC rate cuts over the …
Oct 21, 2024 · Markets believe the central bank is likely to deliver a “supersized” rate cut this week due to cooling inflation and a weakening job market. If that plays out, both RBC and …
Experts predict Canadian mortgage rates will rise next week …
Nov 21, 2024 · As we wrote earlier this month, Donald Trump’s recent U.S. presidential victory has triggered a surge in markets, including the bond market, fuelled by his pro-growth policies …
Mortgage Digest: 50% odds of a 50-bps October rate cut, experts …
Oct 1, 2024 · Even if the Bank doesn’t opt for a ‘super s ized‘ rate cut later this month, a smaller quarter-point cut is virtually guaranteed, experts say. That would mark the bank’s fourth …