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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
19 January 2018

Can the Bank of Canada's gradual rate hikes be dangerous?

According to economists, it will take more time for the recent rate increases in Canada to restrain consumer spending or lead to lower debt levels, than expected. The reason is that most mortgage holders don’t have to renew until 2019, and cheap loans still can be found at the market.

As you know, the central bank raised its key lending rate on Wednesday, pushing the borrowing costs to their highest level since 2009.

However, the overnight rate is only 1.25%. Moreover, the five-year fixed mortgage (the most popular in Canada) costs almost 3%, which is the same as in 2012.

"Most homeowners can withstand a 1% hike. When we see an increase by 1.5% or 2%, then it will be a different situation," - said Rob McLister, founder of RateSpy.

 
18 January 2018

Canadian big banks follow Bank of Canada's example and raise their rates

The largest Canadian banks decided to raise their prime rates as soon as the central bank announced its rate increase by 0.25%.

On Wednesday, the Bank of Canada raised its benchmark interest rate to 1.25%, marking the third hike since the lowest level of the previous summer.

The BoC’s rate affects the amount Canadian borrowers pay for mortgages and personal loans. Although this increase means they will have to pay more, holders of savings accounts and guaranteed investment certificates will also earn larger sums.

After the central bank’s move, Canada's five largest banks (Royal, TD, CIBC, BMO and Scotiabank) also raised their prime rates by 0.25%.

 
17 January 2018

Bank of Canada raised the rate again and here’s how specialists reacted to it

The central bank raised its key lending rate for the third time in half a year due to strong economic performance. However, its next decision may depend on the outcome of NAFTA negotiations.

This Wednesday, the Governor Stephen Poloz raised the rate by 0.25% to 1.25%, following the same increases in July and September.

"The latest data have been quite strong, the inflation reaches the necessary target and the economy is operating roughly at capacity," – the Bank of Canada noted in its official statement.

Although the current outlook seems good, the BoC is concerned about the future of the North American free-trade agreement, which represents the foundation of Canada's trade with the U.S. According to the Bank, speculation about the possibility of the U.S. fallout is already restraining business investment in Canada and poses a strong threat to exports.

"The uncertainty about NAFTA is affecting Canada’s outlook," - the Bank said.

 
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News

19 January 2018

Can the Bank of Canada's gradual rate hikes be dangerous? According to economists, it will take more time for the recent rate increases in Canada to ...Read more >>

18 January 2018

Canadian big banks follow Bank of Canada's example and raise their rates The largest Canadian banks decided to raise their prime rates as soon as the...Read more >>

17 January 2018

Bank of Canada raised the rate again and here’s how specialists reacted to it The central bank raised its key lending rate for the third time in half...Read more >>
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