When the Bank of Canada releases its latest monetary policy report this week mortgage lenders will be looking for any hints that could suggest an interest rate cut. It’s been three months since the last one but since then there has been a more cautious approach to further cuts. Most experts are not expecting this Wednesday to […]

If you plan to buy a home with less than 10% down and get CMHC insurance, get ready to pay another $450 per $100,000 of mortgage. That’s what CMHC’s just-announced premium hike amounts to. It’s the second time in about a year that CMHC has raised its fees on homeowners. The new premiums are a […]

If you want to get a loan or apply for a mortgage, your credit score is everything. That’s because it tells lenders how creditworthy you are. A low score means you’re more likely to fall behind on your debts. You’ll have a hard time qualifying for new credit, and even if you do, you’ll likely […]

 There has been much speculation since the Bank of Canada’s surprise rate cut in late January, but have the predictions come true?  Following the last cut on January 21, many big banks predicted a further cut would be made today, but the Bank of Canada has moved to maintain the rate at ¾ per cent, citing […]

Bank of Canada governor Stephen Poloz gave a speech at Western University yesterday but although he referred to the recent interest rate cut he was not giving any clues as to the next move. He said that we are in uncertain economic territory and that the recent 0.25 per cent cut was necessary to balance […]

The tighter lending restrictions introduced in 2012 may have had unfortunate consequences. The rules were viewed as an attempt to cool the Toronto and Vancouver markets but a report suggests that smaller cities have felt the impact. Cutting the maximum length of mortgage insurance amortization to 25 years from 30 has put off some first-time […]

More experts are joining the voices calling for a further cut in interest rates when the Bank of Canada announces its decision next month. The bank’s senior deputy governor Carolyn Wilkins said yesterday that “the economy still has room to grow” and that the bank’s monetary policy will “support the needed adjustments.” She said that […]

One big bank has offered an explanation for why its prime rate doesn’t match the Bank of Canada’s overnight rate, but brokers aren’t exactly sold. “For years it was always if the Bank of Canada drops its rate by a quarter point, you’d see prime drop by a quarter point, but I think it really […]

Finance Minister Joe Oliver has said he will not interfere with the housing market – or force banks to lower their interest rates, despite the Bank of Canada’s announced rate cut. “I do not intend to interfere with the day-to-day operations of the banks,” Oliver said in an e-mailed statement Thursday, according to BNN. “I […]

The Bank of Canada lowers interest rates and mortgages get cheaper, right? Not necessarily. Yesterday customers of TD Bank were told that there would be no rate cut for now as the bank bases those decisions on “a number of factors”. The other major banks have said that no decision has been made yet but […]