mortgage

The Bank of Canada has raised its policy interest. If you’re wondering why—and how the increase will affect your financial plans—read on for the answers. What is the policy interest rate? The policy interest rate is the fixed interest rate set by a financial institution for a country or group of countries. This determines how much it will cost to borrow money from a central bank. In our case, the Bank of Canada is the one that is regulating, among other things, the country’s economic activity.

Buying a new home? Beware of mortgage fraud

in mortgage

Jun 4, 2019

(NC) Purchasing a new home is a big milestone that’s typically full of happy moments – from picking out new furniture and décor to discovering all the interesting spots in your new neighbourhood. But this is also a time when homebuyers can be susceptible to mortgage fraud. According to a recent survey conducted for Chartered Professional Accountants of Canada (CPA Canada), only 35 per cent of people are aware of the dangers posed by mortgage fraud.

Bank of Canada maintains rate - 05/29/19

in mortgage

May 29, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent Canadian economic data are in line with the projections in the Bank’s April Monetary Policy Report (MPR), with accumulating evidence that the slowdown in late 2018 and early 2019 is being followed by a pickup starting in the second quarter.

Bank of Canada maintains rate - 03/06/19

in mortgage

Mar 6, 2019

The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report (MPR). While the sources of moderation appear to be multiple, trade tensions and uncertainty are weighing heavily on confidence and economic activity.