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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





News
9 January 2019

The Bank of Canada decided to keep its benchmark interest rate unchanged

On Wednesday, the central bank kept its key lending rate unchanged at 1.75%, even despite several economic difficulties.

As you know, the Bank of Canada has raised the rate five times since the summer of 2017, trying to keep inflation within the necessary limits of 1%-3%. The previous increase was in October.

This rate influences Canadians by increasing or reducing the rates borrowers and savers receive for their lines of credit, savings accounts, and variable-rate mortgages.

In addition to it, the BoC reduced its forecasts for the national economy in 2019. Following a 25% decline in oil prices since October, the Bank had to cut its expectations from 2.1% three months ago to the current 1.7%.

However, the Bank still plans to raise the rate again. "It’s necessary to lead the interest rate into a neutral range in order to achieve the inflation target," – the BoC noted.

 
8 January 2019

Stress tests in Toronto are hitting renters too

It turns out that mortgage stress tests aren’t only influencing potential homebuyers in Canada. According to Ben Myers, founder of Bullpen Consulting, renters are also facing the rent growth, caused by the implementation of the new rules – even those who aren’t planning to make a purchase in the nearest future.

“We’ve seen a significant growth, especially after the introduction of B-20 rules, including the new stress test which has decreased credit availability and made people switch to renting,” – he says.

As you know, at the beginning of 2018, the federal government expanded stress testing even to uninsured mortgages.

 
7 January 2019

Should we expect a rate increase this week?


On Wednesday, the central bank will announce its interest rate decision, and many predict no changes this time.


However, there will also be a Monetary Policy Report release, and the mortgage and housing industries (as well as borrowers) will pay a lot of attention to its tone.


According to CIBC economist Avery Shenfeld, the rate decision is easy. It’s what to say about the future that is more difficult.

 
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News

22 January 2019

Liberal government is looking for ways to help millennials enter the housing market According to Finance Minister Bill Morneau, the federal governmen...Read more >>

21 January 2019

More and more Canadians face financial difficulties According to the recent survey, the number of Canadians who find themselves about $200 away from...Read more >>

18 January 2019

Canadian economy lost 13,000 jobs in December According to ADP Research Institute, Canada lost 13,000 jobs in December 2018. Such a large drop was c...Read more >>
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