The Bank of Canada announced a quarter-percentage point rate hike Wednesday, the first interest rate increase since January, as high inflation persists. The central bank announced a pause earlier in January. Its key interest rate now sits at 4.75 per cent, the highest it’s been since 2001. “Based on the accumulation of evidence, governing council […]
The Bank of Canada announced today that it will continue to hold its key interest rate steady at 4.5 per cent, as was widely anticipated by economists. The central bank says recent data is reinforcing its confidence that inflation will continue to fall in the coming months. Canada’s annual inflation rate fell to 5.2 per […]
The Bank of Canada is holding interest rates steady for the first time in a year. The central bank says based on the assessment of recent economic data, the key rate will remain at 4.5 per cent. However, it is keeping the door open to further rate hikes if the economy or inflation run hotter than expected. Recent data shows inflation slowed […]
While people are considering what to do with their debt payments during the COVID-19 pandemic, some experts are suggesting things they should keep in mind should there be a consideration to refinance their mortgage. Rob McLister, a mortgage expert at Rates.ca, has offered three factors that people should remember if they decide to go down […]
A new federal program aiming to give homebuyers some help covering their mortgage costs will kick in on Labour Day — weeks before a federal election — with the first payments flowing in early November, just days after voters across Canada go to the polls. The Liberals unveiled details Monday of the $1.25-billion plan, which […]
