Categories for Bank of Canada

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...

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:...

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...

BoC Stands Pat. Prepare for B-20

Not much to see at today’s Bank of Canada meeting. It was another yawner as prime rate held at 3.20%. Among the few takeaways: The Bank stated: “While higher interest...

No Rate Change Today

If you have a mortgage that floats with prime rate, the constant chatter about rate hikes may be unnerving. Well, now you can take a breather—because the Bank of Canada has taken a...

BoC Hikes Again. So Long Sub-2% Mortgage Rates

For now, the days of sub-2% everyday mortgage rates are officially over. Wednesday morning’s slightly surprising 1/4-point Bank of Canada hike was the nail in that coffin. The ensuing 1/4-point bump in prime rate...

Prime Rate Jumps: What You Need to Know

In just the latest reminder that banks value profit above PR, each of the Big 5 have hiked prime rate by a full 1/4 point. That means the rate variable mortgages are based on rises to 2.95% on...

BoC Hikes: Mortgage Rate Surveillance

A quick briefing on recent mortgage rate developments: Higher Rates on the Radar: The market has now fully priced in a rate hike this year, based on the yields of interest rate derivatives....

Rate Inertia Persists (For Now)

Variable-rate holders can sit back in their easy-chair. Prime rate is cemented at 2.70% after the Bank of Canada pushed out its forecasted economic recovery for the umpteenth time. The Bank said there’s...

Thank You, Mr. Poloz?

“Young folks with mortgages regularly thank me for keeping interest rates low.“ —Bank of Canada Governor, Stephen Poloz   In fact, Mr. Poloz’s decisions to keep rates low have practically...