by Josh | Mar 28, 2020 | Economic, Mortgage Blog, Mortgage Rates, News, Videos
Mortgage Rates continue to be in a state of flux with COVID-19. Here is my latest (March 27, 2020) explanation of what has been happening.
by Josh | Mar 17, 2020 | Economic, Mortgage Blog, Mortgage Rates, Videos
Two weeks ago the Bank of Canada lowered it’s overnight rate by a half percent. This was the largest single day drop since 2008. Just over a week later on Friday the 13th, they did it again in an unscheduled rate announcement.
The major banks didn’t immediately follow suit, but as of today we have seen the banks pass along the full half percent rate drop again.
by Josh | May 29, 2019 | Mortgage Rates
The Bank of Canada released their statement today and it’s not surprise that they have not changed the overnight rate. The rate which currently rests at 1.75% has remained unchanged since October. The Bank had been gradually increasing interest rates but stopped... by Josh | May 24, 2019 | Mortgage Rates
A Reuters poll taken by 40 economists last week has shown that the Bank of Canada will not likely increase interest rates again until the end of 2020. Additionally, there is a 40% chance that we will see them make cuts to rates. The poll cited continued slow economic...
by Josh | Apr 26, 2019 | Mortgage Rates, Mortgage Tips & Advice
The Bank of Canada announced on Wednesday that they will not be changing their overnight rate which is currently 1.75%. The rate has remained unchanged for the last six months (October 2018) and is expected to hold steady for at least most of this year, if not part of...
by Josh | Mar 12, 2019 | Mortgage Rates
More and more it seems that The Financial Powers That Be have had bigger more aggressive plans than consumers were ready for. Back in 2017 and through most of 2018 the Bank of Canada was confident that several interest rate hikes in steady progression would be...