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Here's what another Bank of Canada rate hike means for Canadians

1/27/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder

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The Bank of Canada hiked its key interest rate by a quarter of a percentage point Wednesday, bringing it to 4.5 per cent. Here's a look at what the rate means, how analysts ... More


Arrears rate rises from its all-time low

1/25/2023 | Posted in Mortgage News by Paul DeAdder

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Canada’s national arrears rate ticked up from its all-time low in October, according to data from the Canadian Bankers Association.

... More


BoC expected to end year off with one more rate increase, likely to pause hikes soon

12/2/2022 | Posted in Interest Rates by Paul DeAdder

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The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on ... More


BoC's Macklem: Rate hikes nearing end, but consumer pain ahead

11/3/2022 | Posted in Canadian Economy and Interest Rates by Paul DeAdder

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The Bank of Canada is almost done with its current series of rate hikes, but consumers should brace for higher borrowing costs before the end, according to central bank ... More


Growing debt could threaten stability as rates rise, says Bank of Canada's Rogers

10/18/2022 | Posted in Canadian Economy and Interest Rates by Paul DeAdder

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The Bank of Canada is closely monitoring debt burdens being shouldered across the economy over concerns they could become a threat to financial stability as interest rates ... More


Here's how a recession could affect your work, housing and expenses

10/14/2022 | Posted in Canada Living by Paul DeAdder

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Many economists say a mild recession is on the cards as they look ahead to 2023.

... More


BoC's Macklem: More interest rate hikes are "warranted"

10/7/2022 | Posted in Mortgage Interest Rates by Paul DeAdder

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Having already raised interest rates by 300 basis points this year, the Bank of Canada’s Tiff Macklem confirmed on Thursday that additional rate hikes (plural form) are ... More


RBC on the state of Canada's household wealth

9/21/2022 | Posted in Home Owners by Paul DeAdder

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Significant slowdown in housing, bond, and equity markets had a major influence on Q2 figures

... More


Interest rates: TD, Scotia see Bank of Canada heading to 4%

9/14/2022 | Posted in Interest Rates by Paul DeAdder

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TD Securities and Scotiabank's top economists think there’s more room to run for the Bank of Canada as it increases interest rates from the pandemic ... More


Canadians are falling deeper into debt: Statistics Canada

9/12/2022 | Posted in Canada Living by Paul DeAdder

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New data from Statistics Canada shows that Canadians are sliding deeper into debt.

... More


Millions of Canadians could default on debts warns TransUnion

9/7/2022 | Posted in Canada Living by Paul DeAdder

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Overall consumer debt hit a new record high in the second quarter and some people may be overwhelmed by inflation.

... More


How the Bank of Canada's rate hike will impact mortgages, loans and spending

7/13/2022 | Posted in Mortgages and Real Estate by Paul DeAdder

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The Bank of Canada increased its key interest rate by one percentage point Wednesday in the largest hike the country has seen in 24 years.

... More


Over-leveraged homeowners remain vulnerable to lenders

7/5/2022 | Posted in Canadian HELOC by Paul DeAdder

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A much anticipated federal clampdown on a new mortgage product that sinks over-leveraged homeowners deeper into debt has fizzled.

... More


Key household debt-to-income ratio down in Q1 as income rises faster than debt

6/14/2022 | Posted in Canadian Economy and Housing Market by Paul DeAdder

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Statistics Canada says the amount Canadians owe relative to their income pulled back in the first quarter from the record level set in the fourth quarter of 2021 as incomes ... More


Deputy Bank of Canada governor warns key interest rate could rise above previous target of 3 per cent

6/3/2022 | Posted in Canadian Economy and Interest Rates by Paul DeAdder

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One day after raising the key interest rate by 50 basis points to 1.5 per cent, the Bank of Canada is warning Canadians that rates could rise above previously targeted levels ... More


Canada braces for higher mortgage defaults

4/21/2020 | Posted in Canadian Economy and Housing Market by Paul DeAdder

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Rising unemployment and high debt is expected to boost mortgage loan delinquencies in Canada, though experts say it won’t play out like the U.S. subprime mortgage crisis ... More


Millions of Canadians already missing payments due to COVID-19

3/27/2020 | Posted in Financial Health by Paul DeAdder

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The coronavirus outbreak is leading to defaults on credit cards, utilities, and telecoms.

... More


Big Six banks slash prime rates by half a point

3/17/2020 | Posted in Canadian Economy and Interest Rates by Paul DeAdder

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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 slashes policy rate to 0.75 per cent in surprise cut

3/13/2020 | Posted in Canadian Economy and Interest Rates by Paul DeAdder

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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 ... More


Changing the stress test may raise credit risk for banks says Fitch

2/27/2020 | Posted in Mortgages and Real Estate by Paul DeAdder

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The proposed change to the federal mortgage guidelines that would reduce the stress test requirement for borrowers could adversely affect the credit risk of Canada’s big ... More


Canadian reverse mortgage debt reaches nearly $4 billion

1/28/2020 | Posted in Financial Health by Paul DeAdder

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Despite a decelerating pace of borrowing, Canadian seniors still pushed the nation’s reverse mortgage debt balance towards yet another ... More


Canadians are cutting back on debt amid fears of recession

1/2/2020 | Posted in Canada Living by Paul DeAdder

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Most Canadians held back from increasing their debt burden in 2019 and 1 in 5 say debt repayment is their top financial priority for 2020.

... More


Canadian Household Borrowing Jumps By 31%, StatCan Says

12/16/2019 | Posted in Financial Health by Paul DeAdder

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Canadians' borrowing habits are back to where they were before policymakers cooled off the housing market. Lower interest rates are convincing some to borrow more.

... More


Canadians' wealth reduced as real estate gains are erased

9/19/2019 | Posted in Canadian Economy and Housing Market by Paul DeAdder

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The average Canadian household was worth less in 2018 than in the previous year.

... More


Stats Can releases Q2 household debt data

9/14/2019 | Posted in Financial Health by Paul DeAdder

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Household income grew slightly faster than debt in the second quarter as the amount Canadians owe relative to their income edged down for the third quarter in a row.

... More


A Bank of Canada rate cut as early as September

8/20/2019 | Posted in Interest Rates by Paul DeAdder

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A slowing economy and growing trade tensions suggest a cut will happen more quickly than currently accounted for, Macquarie economist says.

... More


Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Paul DeAdder

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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


OSFI increases domestic buffer to 2% amid household debt risk

6/6/2019 | Posted in GTA Real Estate by Paul DeAdder

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Canada’s banks will have to set aside a larger share of their capital to protect against downturns in lending and other potential financial risks.

... More


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