variable rate mortgages News and Articles | My Blog
Is breaking your mortgage for a lower rate worth the prepayment penalty?
9/22/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
As interest rates continue to drop, borrowers might wonder if they should renegotiate their fixed-rate mortgage. But at what cost?
... MoreBank of Canada to Start Jumbo Rate Cuts by December, CIBC Says
9/12/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
One of the country’s biggest lenders says the Bank of Canada will accelerate the pace of monetary easing in order to stave off recession.
... MoreInterest rate cut welcome news for homeowners with variable-rate mortgages
9/5/2024 | Posted in Mortgage Interest Rates by Paul DeAdder
Real estate experts say the Bank of Canada’s third consecutive interest rate cut is welcome news for variable-rate mortgage holders, but it could still be some time ... More
Bank of Canada makes third rate cut in a row
9/4/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada has cut its policy rate by a further 25 basis points in its September decision, marking a third consecutive move to bring rates lower.
... MoreThe Bank of Canada is expected to cut rates again, with U.S. Fed on deck
9/3/2024 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada is widely expected to deliver a third consecutive interest rate cut on Wednesday as inflationary forces continue to cool on both sides of the Canada-United ... More
Bank of Canada seen cutting rates faster after weak U.S. jobs data
8/3/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Markets are betting the Bank of Canada will cut at each of its remaining interest rate decisions this year as the labor market in the U.S. looks to be loosening faster than ... More
Bank of Canada cuts key interest rate to 4.5% with hints of more to come
7/24/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle.
... MoreBank of Canada cuts key rate for first time in more than 4 years
6/5/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada has cut its overnight rate by 25 basis points, a move not seen since the beginning of the pandemic.
... MoreJune rate cut still a "close call" despite lower inflation in April
5/21/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Canada's headline inflation rate continued to ease in April, leaving the door open to a Bank of Canada rate cut next month.
... MoreBank of Canada announces key interest rate decision
4/10/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada (BoC) today announced its key interest rate decision, electing to hold rates steady at five per cent.
... MoreIs it time for aggressive rate cuts?
3/19/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
'I hope they're not tepid,' says expert about BoC's upcoming decisions
... MoreVariable or short-term fixed mortgage? Where experts see the "sweet spot"
3/13/2024 | Posted in Mortgages and Real Estate by Paul DeAdder
The Canadian mortgage space is already seeing some rates on offer decline heading into the spring market, despite no clear indication yet from the Bank of Canada that interest ... More
Bank of Canada expected to hold interest rates this week as grey cloud hangs over economy
3/4/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada is expected to preach patience at its interest rate announcement this week as economists say weakening economic conditions are setting the stage for rate ... More
Market participants still expect the first Bank of Canada rate cut in April
2/5/2024 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Despite push-back from the Bank of Canada against aggressive rate-cut predictions, a majority of influential economists and analysts still expect rates to start falling by ... More
BoC set to leave rate unchanged in January, says RBC
1/19/2024 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada is likely to leave its overnight rate unchanged in its first decision of 2024, according to new forward guidance by the Royal Bank of Canada.
... MoreMortgage market risks rising in high-rate environment: CMHC
11/15/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Surging interest rates are weighing down on current homeowners – and further turbulence is on the horizon
... MoreBank of Canada holds key rate steady at 5 per cent, says economy is weakening
9/6/2023 | Posted in Interest Rates by Paul DeAdder
The Bank of Canada held its key interest rate steady at five per cent today, citing recent evidence that suggests the economy is weakening.
... MoreSustained low interest rates no longer possible, says former BoC governor
9/4/2023 | Posted in Interest Rates by Paul DeAdder
This is despite a projected slight drop in the BoC’s policy rate by the end of 2024 or early 2025
... MoreCanadian market participants see rates staying at 5 per cent in 2023: BoC survey
7/24/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
The Bank of Canada (BoC) will not raise rates again and will start cutting a little later than previously anticipated, according to a survey of market participants released by ... More
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening
7/12/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy ... More
How risky is it to extend Canadian mortgage amortizations?
6/27/2023 | Posted in Mortgages and Real Estate by Paul DeAdder
Canada's record pace of interest rate hikes has led to the repayment period for many variable rate mortgages lengthening to over 30 years, helping to shield households from ... More
Another week, another rise in fixed mortgage rates. How high could they go?
6/24/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
Mortgage lenders, including most of the big banks, have continued to hike their fixed mortgage rates following the recent surge in Government of Canada bond yields, which are ... More
BoC debated waiting until July to hike rates, but says data prompted it to act sooner
6/21/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
The Bank of Canada's governing council considered waiting until July to raise interest rates, but ultimately decided to act sooner in the face of hot economic data.
... MoreCanadians' mortgage borrowing hits lowest level since 2003
6/15/2023 | Posted in Financial Health by Paul DeAdder
Canadians' mortgage borrowing has reached its lowest level since 2003, primarily due to the impact of higher interest rates, according to recent data released by Statistics ... More
Prime rate reaches 22-year high of 6.95% and could rise further as rate-hike expectations grow
6/11/2023 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
Variable-rate borrowers will see their interest cost on their next mortgage payment rise as banks and other financial institutions have lifted their prime rates to a 22-year ... More
"More pain" for variable-rate mortgage holders as the BoC hikes rates
6/7/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
Variable-rate mortgage holders are in for “more pain” following the Bank of Canada’s half-expected decision to hike interest rates again.
... MoreLenders - including some big banks -are hiking fixed mortgage rates again
5/29/2023 | Posted in Interest Rates by Paul DeAdder
The past two weeks have seen a flurry of mortgage rate increases at mortgage lenders, including several of the Big 6 banks.
... MoreFurther BoC hike may be necessary, says leading economist
5/24/2023 | Posted in Mortgage Interest Rates by Paul DeAdder
The central bank has kept the policy rate frozen at 4.5% in its two most recent meetings
... MoreBig Six banks slash prime rates by half a point
3/17/2020 | Posted in Canadian Economy and Interest Rates by Paul DeAdder
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
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
