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The Big Banks are slashing their interest rate forecasts
8/8/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
TD, CIBC and BMO have led the way with their revised forecasts, with all now expecting the Bank of Canada to cut interest rates faster and deeper over the next 16 months.
... MoreBig banks slash mortgage rates this week to reflect lower bond yields in Canada
1/12/2024 | Posted in Interest Rates by Paul DeAdder
Nearly all of the country’s big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%).
... MoreBig banks and lenders slash mortgage rates in time for the holidays
12/21/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
Several of Canada’s big banks and numerous other lenders are offering a practical gift for borrowers this holiday season: lower mortgage rates.
... More12/8/2023 | Posted in Canadian Economy and Housing Market by Paul DeAdder
Canada’s banking regulator today announced no change to the amount of capital banks must keep on hand to cover potential future losses.
... MoreAnother rate hike coming, say Big Six banks
7/7/2023 | Posted in Interest Rates by Paul DeAdder
All six of Canada’s main commercial lenders now expect the Bank of Canada to raise interest rates next week after the country’s labor market tripled expectations in ... More
Canadian banks have processed 670,000 mortgage deferrals in first month
4/17/2020 | Posted in Mortgages and Real Estate by Paul DeAdder
Canadian banks processed more than 670,000 mortgage deferrals or skipped payments in the month since announcing a measure to help consumers weather the economic hit from the ... More
Interest rates are plunging - so why aren't mortgage rates?
4/5/2020 | Posted in Mortgage Interest Rates by Paul DeAdder
Bond yields and central bank rates have never been lower, but not all the savings are filtering down.
... MoreCanada's big banks field half a million mortgage deferral requests
4/4/2020 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada’s biggest banks have received nearly half a million requests from homeowners to hold off mortgage payments as the economic fallout from the COVID-19 pandemic ... More
Canada's big banks field more than 200,000 mortgage deferral requests
3/28/2020 | Posted in Canadian Economy and Housing Market by Paul DeAdder
Canada’s largest banks are fielding a deluge of requests to defer payments on mortgages as businesses suffer from efforts to curb the spread of the new coronavirus and ... More
Big Six banks to allow 6-month mortgage payment deferral
3/18/2020 | Posted in Mortgage News by Paul DeAdder
Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers.
... MoreCEO of Canada's biggest bank calls for caution as Ottawa considers adjusting mortgage stress test
1/8/2020 | Posted in Mortgages and Real Estate by Paul DeAdder
Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More
Big banks tighten grip on mortgage market after rule changes stifle competition
12/14/2018 | Posted in Mortgages and Real Estate by Paul DeAdder
New B-20 rules have created an uneven playing field because stress tests don't apply to people renewing mortgages with their current lender
... MoreMortgage rates are rising. Here's how you can save money
5/28/2018 | Posted in Mortgage Interest Rates by Paul DeAdder
Canada’s big banks are locked in a competitive pricing war over variable-rate mortgages, but economic trends point to more interest rate hikes ahead — leaving ... More
Bank of Canada raises qualifying mortgage rate after Big Six banks hike rates
5/9/2018 | Posted in Home Buyers by Paul DeAdder
The bar is now higher for homebuyers to qualify for mortgages in Canada after the central bank raised a key metric used in stress tests that determine borrowers’ ... More
5/1/2018 | Posted in Home Buyers by Paul DeAdder
The Canadian Imperial Bank of Commerce says it will raise its five-year fixed-rate mortgage rate Tuesday by 15 basis points.
... MoreTwo Big Six banks hike benchmark rates
4/27/2018 | Posted in Mortgage Interest Rates by Paul DeAdder
Two of Canada's biggest banks are raising their benchmark rates for five-year, fixed-rate mortgages.
... MoreAmid fraud allegations, S&P lowers Canadian banks' risk metric
2/28/2018 | Posted in Financial Health by Paul DeAdder
Evidence of mortgage fraud amid surging home prices and household debt has prompted S&P Global Ratings to lower a key risk metric for Canadian banks.
... More