Author Archives for RateSpy Staff

Bank of Canada to Remain in Neutral

Quick Summary Today’s Announcement:No change to rates Overnight rate:0.25% Prime Rate:2.45% (no change; seePrime Rate) Market Rate Forecast:No BoC hikes until 2022 BoC’s Headline Quote:“…The Canadian economy appears to have...

Bank of Canada Leaves Key Rate at 0.25%

After slashing rates three times in March and buying billions in bond market instruments to further suppress interest rates, the Bank of Canada pressed <Pause> today. Here’s what happened and...

The Price of Mortgage Convenience

More than 4 out of 5 borrowers stay with their bank when their mortgage renews. And of all the reasons to do so, the least valid is probably this: because they...

The Mortgage Stress Test Changes

The Department of Finance today announced changes to Canada’s benchmark qualifying rate, a key component used in stress-testing insured mortgages. The new benchmark rate will come into effect on April...

Bank of Canada Stands Pat

The Bank of Canada ended 2019 where it ended 2018, with prime rate frozen at 3.95%. Here’s a summary of the Bank of Canada rate decision this morning: Rate Announcement: No...

When a 10-Year Mortgage Term Isn’t So Bad

Special to RateSpy, By John Bordignon, Capital Markets Consultant Earlier this year, while calling for innovation in the mortgage industry, Bank of Canada Governor Stephen Poloz discussed the need for...