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The BoC Punts Rate Hike(s) to Later This Year

Here’s the quick and dirty on Wednesday’s Bank of Canada announcement: Rate Change: None Market Rate Outlook: Two more hikes in 2018 BoC GDP Outlook: 2% growth in 2018 and 2019; 1.8% in...

Canada’s Most Misconstrued Mortgage Study

If we only had a milli-bitcoin for every time someone said this: “…Long-term data tells us that a variable-rate mortgage is the best option.”—LowestRates.ca No, it doesn’t. What the “data”...

A New Leader in Mortgage Rate Holds: BMO

BMO now has the longest regular rate guarantee period of any Big 6 Bank. On Tuesday, Canada’s fourth largest bank upped its rate hold period from 90 to 130 days. Prior...

Prime Rate Stays at 3.45%: Bank of Canada

Your interest rate burden got no heavier today. The Bank of Canada gave floating-rate borrowers a breather by leaving its policy rate at 1.25%. Holding the Bank back were these concerns:...

HELOCs: The Next Lending Crackdown?

HELOC balances appear to be surging at their fastest pace in five years—even faster than mortgages, reports Bloomberg. That’s got ever-vigilant regulators raising an eyebrow. And it’s got certain lenders...

OSFI and the Giant Gorilla

Mortgage growth in Canada is like King Kong—it’s hard to kill. You can riddle it with bullets (mortgage rules), but it just keeps beating its chest and roaring on. More...

Prime Rate Jumps 1/4 Point

RBC waited exactly three hours and 11 minutes to take advantage of the Bank of Canada’s 1/4 point rate hike today. RBC, which is typically Canada’s mortgage rate leader, boosted its...