Jessy Bains Yahoo Finance Canada June 4, 2020 Qualifying for a mortgage is about to get harder for anyone who doesn’t have at least a 20 per cent down payment for a home, which is likely to have an outsized effect on first-time buyers. Canada Mortgage and Housing Corporation (CMHC) is tightening its rules to qualify for an insured mortgage. … Read More
BY THE CANADIAN PRESS Posted Sep 4, 2019 8:05 am MDT OTTAWA — The Bank of Canada is holding steady on interest rates as it gauges the extent of the damage that deepening trade conflicts have had on the domestic and global economies. The rate decision, which was widely expected, keeps the central bank’s overnight rate at 1.75 per cent and follows a solid second-quarter rebound for the Canadian economy. In the … Read More
Roughly 50/50 odds of a rate hike next month Pete Evans · CBC News · Posted: Apr 18, 2018 10:09 AM ET | Last Updated: April 18 The Bank of Canada decided to keep its benchmark interest rate right where it is on Wednesday, but warned of rate hikes to come as inflation heats up. The target for the overnight … Read More
Josh Skapin, Calgary Herald Published on: April 6, 2018 | Last Updated: April 6, 2018 4:55 PM MDT The number of single-family homes that changed hands through Calgary’s resale market this past March eased 27 per cent from the same month in 2017. There were 848 sales of previously owned single-family homes in the city last month, dipping from 1,171 … Read More
By: Andy Blatchford The Canadian Press Published on Wed Mar 07 2018 The 1.25 per cent benchmark is on hold amid concerns over recent trade policy developments and NAFTA renegotiations. OTTAWA — The Bank of Canada kept its key interest rate target on hold Wednesday as it pointed to a climate of broadening, important unknowns around trade. In explaining its decision to maintain its benchmark at … Read More
Pete Evans · CBC News · Posted: January 18th 2018, 11:42:45 AM | Last Updated: January 18 Canada’s biggest lenders have raised their prime lending rates on the same day the country’s central bank moved its benchmark interest rate a quarter percentage point higher. The Bank of Canada raised its key lending rate by a quarter point to 1.25 per cent Wednesday morning, the … Read More
by MIKE TARASKO Posted Jan 10, 2018 7:15 am MST Calgary home prices continued to recover in the final quarter of 2017. According to the Royal LePage House Price Survey, the aggregate value of a home increased 4.4 per cent year-over-year to just over $479,000. Royal LePage Benchmark Owner Corinne Lyall said stricter mortgage rules coming down the pipe likely … Read More
by Andy Blatchford, The Canadian Press Posted Oct 25, 2017 8:14 am MDT Last Updated Oct 25, 2017 at 2:00 pm MDT OTTAWA – The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes but suggested future increases are still likely, albeit at a more gradual pace. In its scheduled announcement, the central bank said … Read More
by MIKE TARASKO Posted Oct 24, 2017 7:55 am MDT A new report says Calgary is the second best place in Alberta to invest in real estate right now. The report was put together by the Real Estate Investment Network using 36 factors to pinpoint whether it’s a good time to buy. REIN’s Senior Analyst Don Campbell said Calgary has … Read More
Steve Huebl – October 17, 2017 Canada’s banking regulator today unveiled the final changes to its mortgage underwriting standards—Guideline B-20—that will further tighten lending standards and affect borrowers and lenders alike. The most wide-reaching change announced by the Office of the Superintendent of Financial Institutions (OSFI) is the establishment of a new minimum qualifying rate, or “stress test,” for borrowers making … Read More