Blog | Century 21 People's Choice

Bank of Canada Still Sees Low Rates Until 2023; Financial Markets Disagree

3/11/2021 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada delivered welcome news for variable-rate mortgage holders today when it stood by its expectation of no rate hikes until early 2023. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canadian Housing Market, Mortgage Consumers, Mortgage Rate Forecast, Mortgage Rates Canada, Mortgage Trends, Real Estate Trends, Variable Rate Mortgages

Bank of Canada stands pat on stimulus, keeps up bond-buying

3/10/2021 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada left interest rates and its asset purchase program unchanged, in a decision that may dampen speculation of an imminent paring back of its stimulus campaign. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Home Buyers, Household Debt, Mortgage Consumers, Variable Rate Mortgages

Bank of Canada seen resisting investor expectations of early rate hike

3/8/2021 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Investors see rising chances that the Bank of Canada would hike interest rates next year as the economic outlook improves, but the central bank is likely to push back against ... More

Canadian Mortgage Market, Economic Growth, Economic Recovery, Mortgage Consumers, Mortgage Rate Forecast, Mortgage Rates, Mortgage Rates Canada

Bank of Canada sees interest rates on hold into 2023

10/28/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada held the rate steady at 0.25 per cent and said the country’s economy won’t fully absorb slack in the economy before 2023, suggesting it will ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Recovery, Household Debt, Interest Rates

Growth in home equity loan volume slowest since 2016: OSFI

10/23/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Slower borrowing might lead to less consumer spending that could further delay Canada's economic recovery ... More

Canada Living, Canadian HELOC, Household Debt, OSFI

Canadian economy growing at steady, if dwindling, pace

10/1/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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A growing number of industries are now moving closer to their pre-pandemic output levels, as Canada’s gross domestic product increased by 3% monthly in July, according to ... More

Economic Growth, Economic Recovery, Mortgage Rates Canada

Bank of Canada re-commits to rate freeze and bond purchases

9/9/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada reiterated its pledge to keep interest rates at historic lows for years to come, but dialed back its willingness to take even more aggressive action and said it ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canadian Inflation, Economic Recovery

That sinking feeling: Canadians losing faith in price index and that has central bankers worried

8/28/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada is starting to worry about inflation. Not because it sees any, mind. ... More

Canada Living, Canadian Inflation, Economic Growth, Economic Recovery

Bank of Canada holds rate steady

6/3/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada held its benchmark interest rate steady at 0.25 per cent on Wednesday and said it thinks the economic impact of COVID-19 on the world's economy ... More

Bank of Canada, Bank of Canada Benchmark Rate, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Variable Rate Mortgages

Canadians could see record low interest rates until 2022

6/1/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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A new survey of 15 economists from Canadian banks, financial institutions and academia suggest that 0.25% interest rate could be around for more than a year, maybe two. ... More

Interest Rates, Mortgage Consumers, Mortgage Rates Canada

Bank of Canada says coronavirus to trigger biggest slump ever, drops forecasts

4/15/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada on Wednesday said the coronavirus outbreak was set to trigger the biggest ever near-term Canadian downturn but suspended its regular economic forecasts, citing ... More

Bank of Canada, Canada GDP, Canada Real Estate, Economic Growth

Bank of Canada: Key interest rate cut to lowest level

3/27/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Coronavirus, Economic Growth

Big Six banks slash prime rates by half a point

3/17/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canadian Banks, Household Debt, Variable Rate Mortgages

Bank of Canada slashes policy rate to 0.75 per cent in surprise cut

3/13/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the economic ... More

Bank of Canada, Economic Growth, Household Debt, Variable Rate Mortgages

BoC rate must be at 1.5%, think-tank's fiscal policy council says

3/2/2020 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Just a few days before the Bank of Canada’s March 4 meeting, the Monetary Policy Council of the C.D. Howe Institute called on the institution to lower its benchmark policy ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

Canadian households to get short break from rising debt costs

12/31/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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TD economists says the cost of servicing debts should ease early in 2020 ... More

Bank of Canada Benchmark Rate, Canada Living, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Canadian mortgage performance to remain stable in 2020

12/18/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Canadian mortgage lenders shouldn’t worry too much about the performance of their loans in 2020 according to a new report from Fitch Ratings. ... More

Canada Real Estate, Canadian Credit Market, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Correction Canada

Bank of Canada keeps key interest rate target on hold

12/5/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada kept its key interest rate on hold as expected at 1.75 per cent where it has been for more than a year as it said Wednesday that ongoing trade conflicts and ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates Canada, Variable Rate Mortgages

Mortgage interest cost index slows but cost of living remains higher

10/21/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The cost of living was higher across many products and services in September. ... More

Cost of Living, Mortgage Consumers, Mortgage Trends, Personal Finance, Statistics Canada

Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada to cut rates in October, then twice more

7/3/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada will start cutting its key lending rate in October as annual economic growth slows to one per cent in 2020, according to Capital Economics. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Interest Rates, Mortgage Rates Canada

Inflation surges to highest in seven years, giving Bank of Canada room to hold rates

6/20/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Canadian inflation quickened in May on increases across all eight major components, giving the Bank of Canada plenty of scope to hold interest ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Interest Rates

Fixed or Variable Rate?

5/6/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Goodbye, variable-rate mortgage. Everyone’s going fixed these days, and for good reason. ... More

Fixed Rate Mortgages, Home Buyers, Interest Rates, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate

Household debt to have knock-on effect upon banks, economy

4/29/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Canadians now owe an average of $1.79 for every dollar of disposable income. ... More

Bank of Canada, Bankruptcy, Canada, Canadian Banks, Household Debt, Insolvency, Interest Rates, NonMortgage Debt

Bank of Canada's Poloz says stimulative rates needed for temporary soft patch

4/2/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Poloz's optimism Monday about the future could ease speculation the central bank could lower rates. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada Real Estate, Economic Growth, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Bank of Canada to cut rates before the end of 2019

2/28/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Capital Economics predicts that The Bank of Canada will cut its key lending rate in December as a weakening housing market and oil sector headwinds drag GDP growth back below ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canadian Housing Market, Economic Growth, Interest Rates

Interest rates might remain flat until next year

1/14/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The central bank will most likely refrain from further hikes “given increased market volatility and more restrictive financial conditions. ... More

Bank of Canada, Bank of Canada Benchmark Rate

Economists renew prediction for lower interest rates for Canada in 2019

1/5/2019 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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Ahead of the Bank of Canada’s first policy meeting of the year, scheduled for next week, Capital Economics is back at it again. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada, Canadian Housing Market, Economic Growth, Interest Rates

Bank of Canada makes key interest rate announcement

12/5/2018 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada is leaving its key interest rate unchanged. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Variable Rate Mortgages

Rate rises may be reshaped by oil production cuts says CIBC

12/4/2018 | Posted in Canadian Economy and Interest Rates by Century 21 People's Choice
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The Bank of Canada will announce its December interest rates decision Wednesday and few are expecting a Grinch-like pre-Christmas shock. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Fixed Rate Mortgages, Interest Rates, Mortgage Rates Canada, Variable Rate Mortgages

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