This morning the Bank of Canada announced no change to the overnight target rate which means no change for our Variable Rate Mortgage holders. I have outlined Dr. Sherry Coopers update below for more detailed insight on our current economic situation. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Bank of Canada Holds Policy Rate Steady Today, the Bank of Canada once […]

This morning the Bank of Canada made its final announcement of the year and as expected, the Overnight Target Rate which affects the Prime Rate will remain unchanged. What this means to you as a Home Buyer or Home Owner…if you have a Variable Rate for your mortgage or line of credit, your payment and […]

Bank of Canada Lowers Policy Rate to 2.25% Today, the Bank of Canada lowered the overnight policy rate by 25 bps to 2.25% as was widely expected. This is the bottom of the Bank’s estimate of the neutral overnight rate, where monetary policy is neither expansionary nor contractionary. The economy will grow at about a […]

Todays report and insight is provided by Dr. Sherry Cooper, Chief Economist, Dominion Lending Centres. As expected, the Bank of Canada held its benchmark interest rate unchanged at 2.75% at today’s meeting, the second consecutive rate hold since the Bank cut overnight rates seven times in the past year. The governing council noted that the […]

Bank of Canada Cuts Policy Rate By 25 BPs The Bank of Canada (BoC) reduced the overnight rate by 25 basis points this morning, bringing the policy rate down to 2.75%, within the neutral range of 2.25%—2.75%. Tariff tremors have already led to a decline in consumer confidence and spending, a weakening labour market, and […]

Wondering how you may be impacted by potential tariffs and the threat of an economic trade war? We are definitely in an economic time that we haven’t seen before and just when we think mortgage rates and the real estate market are normalizing after the pandemic, we get the Trump tariff shake up.  In a […]