Prime rate increase by major banks to 3.45%, in relation to the recent key interest rate increase. The Bank of Canada raised the policy interest rate a quarter of a per cent on Wednesday. The third key rate increase in under a year, after a lengthy record low. A move by the national bank in light of a growing and healthy Canadian economy. The key rate, policy interest rate, is determined by the Bank of Canada.
The Bank of Canada raised its key interest rate today by a quarter of a per cent. BoC increased the rate to 1.25% from 1.00%. This is the third key interest rate increase in under a year.
Canadian real estate ended 2017 strong as buyers rushed to beat the New Year’s coming mortgage rules. New mortgage rules were announced in the fourth quarter of 2017 in October.
The Bank of Canada (BoC) will likely raise interest rates next Wednesday. This would be BoC’s third interest rate hike in less than a year.
New mortgage rules hit the Canadian market on New Year’s day. The Office of the Superintendent of Financial Institutions (OFSI) implemented the new rules, which were detailed in an official report in Fall 2017.
WARNING: Regulators are indicating the new Mortgage regulations are to be announced by the end of October and be in full force by January 2018. Currently, this rule is in place for High Ratio Mortgages (Less than 20% Downpayment).
Bank of Canada says weak housing could hit economy KINGSTON, Ontario (Reuters) - If the Canadian housing market were to weaken suddenly it could have a "sizable spillover" effect on other parts of the economy, a senior Bank of Canada official...
The year has started off with a jolt, with some unexpected numbers coming in from Statistics Canada for November 2010 for building starts. Contrary to the gain of 1.5% that analysts predicted, Stats Can reports that building permits fell down 11.
2010 ended well in terms of residential sales in Montréal, according to new figures released from Greater Montréal Real Estate Board. In fact, 2010 was the second best year on record for sales.
