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OSFI Tightens Supervisory Expectations for Mortgage Underwriting

The Office of the Superintendent of Financial Institutions (OSFI) issued a letter this morning to all federally regulated financial institutions (FRFI). The letter expresses concern about the rising...

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The Bank of Canada almost cut its Key Rate today.

Today the Bank of Canada has announced that it will leave their Key (overnight lending) rate alone at 0.5%.  The BoC has also changed their growth projections for the Canadian economy.  The last time...

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U.S. Fed & Trump More Important to Canadian Rates than Bank of Canada Right Now

  Much has happened with interest rates, the lending market and investing since our last update several weeks ago.  We thought it important to wait and confirm this week's move by the U.S. Federal...

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BoC Leaves Key Rate Alone Again

The Bank of Canada (BoC) yesterday announced no change in their Key Overnight Lending Rate again.  This is the rate that banks use to settle accounts daily and the rate that Canadian Prime is based...

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Who Can You Trust?

Three people to whom you can confide everything: a) Your Priest b) Your Doctor c) Your INDEPENDENT Mortgage Broker…   not your Bank!  

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Bank Rate Watch – April 12, 2017

This week, on its scheduled date; Wednesday April 12th, the BoC decided to hold the line on any change to the key overnight lending rate that it controls for settlement between major Canadian FI's....

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Central Bank Leaves Key Rate Unchanged, Decides to Remain on Sidelines

Canada’s central bank (Bank of Canada) announced today that it will leave its target for the key overnight rate unchanged at 0.5%.  It has remained unchanged since middle of 2015.  The Canadian economy...

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BoC rate hike…an experiment?

The Bank of Canada (BoC) has hiked its benchmark interest rate to 0.75 per cent from 0.5 per cent, its first increase in nearly seven years (Sept 2010), with expectations for stronger economic growth...

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Bank of Canada Tightening – September 2017

Yesterday the Bank of Canada raised its key rate to tighten monetary policy in Canada.  Many economists and investors thought that the BoC would leave the rate alone and not hike it two announcement...

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Bank of Canada Rate Announcement – October 25, 2017

Any urgency read into Canadian economic matters this past summer to raise interest rates has quickly dissipated.  The Bank of Canada (BoC) this week announced that it will leave its key rate alone at...

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Bank of Canada Announcement Shows Caution

The Bank of Canada has announced today that it will leave its key policy rate alone at 1% for the time being. It notes that employment has risen and the Canadian economy is moving towards full capacity...

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Bank of Canada Delivers Increase Today – January 17, 2018

The Bank of Canada today raised its key lending benchmark rate a quarter point to 1.25 per cent. This is “an historically low setting that nonetheless will seem high to anyone who got used to...

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Bank of Canada Announcement – March 7, 2018

The Bank of Canada (BoC) today maintained its target for the overnight rate at 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Pre-indications of the...

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April 18, 2018 – Bank of Canada Announces No Change To Bank Rate

Today the Bank of Canada (BoC) announced that it will be leaving its key rate unchanged at 1.25%. Canadian financial institutions are expected to follow suit and leave their Prime rate of lending at...

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Bank of Canada Takes Advantage of Strong Recent Economic Numbers

The Bank of Canada (BoC) today announced it will increase its benchmark key overnight lending rate by 0.25% to 1.5%, thus likely causing major financial institutions to raise their prime rate by same....

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October 24, 2018 Bank of Canada Pushes Key Rate Up

Today the Bank of Canada decided to raise its key rate by 0.25% to 1.75%. It is expected that Canada’s major FI’s will follow suit and raise their Prime rate of interest to 3.95%. Interest rates are...

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Economy Not as Rosy as Bank of Canada Had Thought

Today the Bank of Canada (BoC) decided to hold its key lending rate unchanged. This decision is best summed up by Financial Post’s Kevin Carmichael as follows: “Canada’s central bank took a break from...

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January 9, 2019 – Bank of Canada Makes No Change to its Key Rate

The Bank of Canada has decided to leave its key rate untouched (at 1.75%) with its announcement today. As expected, their hawkish view on ramping up rates has cooled off. Major FI prime rates will...

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Bank of Canada Does Nothing to Rate – March 7, 2019

The Bank of Canada is having to recast its’ projections of a slower economy as thought in the previous two quarters. They had expected a lag in the economy for late 2018 & early 2019 only, but this...

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Interest-rate-sensitive U.S. stocks are signaling that bond yields won’t move...

David Wilson, Stocks Editor, Bloomberg Radio has shown a great chart here that further indicates the lack of upward pressure on interest rates. Renaissance Macro Research LLC created by Michael Guttag,...

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