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Bank of Canada 'micro rate cut' bets in play as lockdowns weigh

1/13/2021 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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Money markets see an increased chance of the Bank of Canada cutting interest rates closer to zero, as tightening economic restrictions to contain a second wave of COVID-19 ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rate Forecast, Mortgage Rates Canada

What will happen to Bank of Canada rates in 2021?

1/7/2021 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada will likely leave the overnight lending rate unchanged for the whole of 2021, according to a recent forecast.

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Bank of Canada, Mortgage Consumers, Mortgage Rate Forecast, Mortgage Rates, Mortgage Trends

Bank of Canada keeps overnight rate frozen

12/9/2020 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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In today’s policy announcement, the Bank of Canada stood by its pledge to hold its key overnight interest rate at 0.25%.

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Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Mortgage Consumers, Mortgage Rates Canada

Bank of Canada deputy downplays pandemic risk

11/25/2020 | Posted in Canadian Housing Market by Forest Hill Real Estate Signature
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Almost all households with expired debt referrals have resumed payments

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Bank of Canada, Coronavirus, Housing Correction Canada, Mortgage Deferrals

Mortgage interest costs continued to fall in October

11/24/2020 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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Mortgage interest costs continued to trend downward in October, according to recent figures from Statistics Canada.

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Bank of Canada, Mortgage Consumers, Mortgage Rates Canada, Statistics Canada

Bank of Canada sees interest rates on hold into 2023

10/28/2020 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada held the rate steady at 0.25 per cent and said the country’s economy won’t fully absorb slack in the economy before 2023, suggesting it will ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Recovery, Household Debt, Interest Rates

Negative rates down the line are possible: BoC

10/13/2020 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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However, the central bank's policies might leave the Canadian financial system more vulnerable in the long run.

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Bank of Canada, Canadian Banks, Mortgage Rates Canada

Bank of Canada re-commits to rate freeze and bond purchases

9/9/2020 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada reiterated its pledge to keep interest rates at historic lows for years to come, but dialed back its willingness to take even more aggressive action and said ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canadian Inflation, Economic Recovery

Bank of Canada will maintain current level of policy rate

7/15/2020 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent.

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Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates Canada, Variable Rate Mortgages

Record-low interest rates here to stay - for now

6/23/2020 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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Low interest rates will be the norm for the foreseeable future, Bank of Canada Governor Tiff Macklem said earlier this week.

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Bank of Canada, Canadian Mortgage Market, First Time Home Buyers, Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Renewals, Variable Rate Mortgages

Bank of Canada holds rate steady

6/3/2020 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada held its benchmark interest rate steady at 0.25 per cent on Wednesday and said it thinks the economic impact of COVID-19 on the world's economy ... More

Bank of Canada, Bank of Canada Benchmark Rate, Fixed Rate Mortgages, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Variable Rate Mortgages

Tiff Macklem named new Bank of Canada governor amid COVID-19 pandemic

4/30/2020 | Posted in Anouncements by Forest Hill Real Estate Signature
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Tiff Macklem, a former second-in-command at the Bank of Canada, is returning to the central bank to take over the top job at a moment that he says cries out for bold, ... More

Bank of Canada, Government of Canada

Bank of Canada says coronavirus to trigger biggest slump ever, drops forecasts

4/15/2020 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada on Wednesday said the coronavirus outbreak was set to trigger the biggest ever near-term Canadian downturn but suspended its regular economic forecasts, ... More

Bank of Canada, Canada GDP, Canada Real Estate, Economic Growth

Bank of Canada: Key interest rate cut to lowest level

3/27/2020 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement.

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Bank of Canada, Bank of Canada Benchmark Rate, Coronavirus, Economic Growth

Big Six banks slash prime rates by half a point

3/17/2020 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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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, Bank of Canada Benchmark Rate, Canadian Banks, Household Debt, Variable Rate Mortgages

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 Forest Hill Real Estate Signature
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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

Bank of Canada, Economic Growth, Household Debt, Variable Rate Mortgages

Toronto House Prices Jump By $130,000 In A Year

3/6/2020 | Posted in Toronto Real Estate by Forest Hill Real Estate Signature
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Toronto House Prices Jump By $130,000 In A Year As Industry Calls For 'Shovels In The Ground'. And now the Bank of Canada is putting "kerosene on the fire" ... More

Bank of Canada, Interest Rates, Stress Test, Toronto Condo Market, Toronto House Prices, Toronto Living, Toronto Real Estate, Toronto Real Estate Prices, Toronto Residential

Bank of Canada lowers overnight rate target to 1.25 percent

3/4/2020 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Variable Rate Mortgages

BoC rate must be at 1.5%, think-tank's fiscal policy council says

3/2/2020 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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Just a few days before the Bank of Canada’s March 4 meeting, the Monetary Policy Council of the C.D. Howe Institute called on the institution to lower its benchmark ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

Bank of Canada Holds Rates, Shows Less Confidence in Outlook

1/22/2020 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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The Bank of Canada held interest rates steady but expressed heightened concern about a slowing economy.

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Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Mortgage Rates Canada, Variable Rate Mortgages

CEO 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 Forest Hill Real Estate Signature
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Royal Bank of Canada chief executive Dave McKay told a banking conference on Tuesday that the mortgage stress test has “generally been good ... More

Bank of Canada, Big Six, Canadian Banks, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Affordability, Housing Demand, Stress Test

Bank of Canada keeps key interest rate target on hold

12/5/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada kept its key interest rate on hold as expected at 1.75 per cent where it has been for more than a year as it said Wednesday that ongoing trade conflicts and ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates Canada, Variable Rate Mortgages

Bank of Canada announces interest rate decision

10/30/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada (BoC) announced today that it would keep the overnight rate at 1.75%.

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Bank of Canada, Bank of Canada Benchmark Rate, Canadian Households, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada reveals latest interest rate decision

9/4/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada resisted pressure from investors by declining to signal it will soon follow global peers in easing monetary policy.

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Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Economic Growth, Interest Rates, Mortgage Consumers, Variable Rate Mortgages

A Bank of Canada rate cut as early as September

8/20/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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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.

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Bank of Canada, Bank of Canada Benchmark Rate, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

5 ways the U.S. Fed's rate cut affects Canadians

8/2/2019 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Here’s a look at how lower rates south of the border could ripple through our country, according to five experts.

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Bank of Canada, Economic Growth

Central bank qualifying rate used in mortgage stress tests falls

7/21/2019 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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The Bank of Canada's rate used by mortgage stress tests to determine whether would-be homeowners can qualify has dropped for the first time in three years.

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Bank of Canada, Canada Mortgage and Housing Corporation, CMHC, Home Buyers, Stress Test

Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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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.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada to cut rates in October, then twice more

7/3/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada will start cutting its key lending rate in October as annual economic growth slows to one per cent in 2020, according to Capital Economics.

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Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Interest Rates, Mortgage Rates Canada

Inflation surges to highest in seven years, giving Bank of Canada room to hold rates

6/20/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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Canadian inflation quickened in May on increases across all eight major components, giving the Bank of Canada plenty of scope to hold ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Interest Rates

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