The Bank of Canada has announced the benchmark rate will remain unchanged at 1.25% but several clues in their policy statement point to an imminent rate increase. Policy makers now say they will take a “gradual” approach. “Developments since April further reinforce...
The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. Recent data have been strong, inflation is close to target, and the economy is operating roughly at capacity,” the Bank of Canada said in a statement. What this means as far as...
Starting January 1, 2018, Canadian home buyers will need to meet stiffer guidelines in order to qualify for a mortgage with a federally regulated mortgage lender. The rules now require the minimum qualifying rate for uninsured mortgages to be the greater of the...
