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Impact of tighter rules, interest rates greater than anticipated

2/1/2019 | Posted in Canadian Housing Market by Forest Hill Real Estate Signature
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The Bank of Canada has admitted that the economic impact of strict mortgage regulations, local housing restrictions, and the upward trend in interest rates was more serious ... More

Bank of Canada, Canada Real Estate, Interest Rates, Real Estate Market, Stress Test

Poloz buys borrowers more time but punishes savers

1/16/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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What the Bank of Canada's decision to hold its key rate means for borrowers and savers.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, NonMortgage Debt, Savings

Interest rates might remain flat until next year

1/14/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The central bank will most likely refrain from further hikes “given increased market volatility and more restrictive financial conditions.

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Bank of Canada, Bank of Canada Benchmark Rate

Bank of Canada announces interest rate decision

1/9/2019 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada left its trend-setting interest rate unchanged at 1.75% on Wednesday as the sharp decline in oil prices temporarily dims its economic outlook for the coming ... More

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

Economists renew prediction for lower interest rates for Canada in 2019

1/5/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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Ahead of the Bank of Canada’s first policy meeting of the year, scheduled for next week, Capital Economics is back at it again.

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Bank of Canada, Bank of Canada Benchmark Rate, Canada, Canadian Housing Market, Economic Growth, Interest Rates

Just one interest rate rise in 2019: BCREA

12/14/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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Just a few months ago economists were predicting that the Bank of Canada would take a bullish stance on interest rates following its talk of ‘normalization’ of the ... More

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

Canadian Household Debt Growth Slows Down

12/7/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Rising interest rates and new mortgage rules have finally forced an end to years of rapid lending, according to the latest data from Bank of Canada.

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Bank of Canada, Canada Real Estate, Household Debt, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt

The bond market is now sending a clear signal: Go with a variable-rate mortgage

12/6/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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If you’re shopping for a mortgage and believe what the bond market is telling us, it implies your odds of success with a fixed rate may have just changed.

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Bank of Canada, Fixed Rate Mortgages, Mortgage Advice, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Tips, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada makes key interest rate announcement

12/5/2018 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada is leaving its key interest rate unchanged.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Variable Rate Mortgages

Rate rises may be reshaped by oil production cuts says CIBC

12/4/2018 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada will announce its December interest rates decision Wednesday and few are expecting a Grinch-like pre-Christmas shock.

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

No rate rise at least February suggests C.D. Howe Institute

11/30/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada should hold pat on interest rates until the spring according to The C.D. Howe Institute's Monetary Policy Council.

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Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Mortgage Consumers, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate, Variable Rate Mortgages

Mortgage risks fading as Bank of Canada sees dramatic drop in highly indebted borrowers

11/14/2018 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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The bank says stress tests and higher interest rates have reduced the share of new high-leverage, insured loans to six per cent from 20 per cent in late 2016.

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Bank of Canada, Mortgage Consumers, Mortgage Industry, Mortgage Market, Mortgage Trends, Mortgages & Real Estate, Stress Test

Landing zone for rising interest rates 'sufficiently uncertain': Poloz

11/7/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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Bank of Canada governor Stephen Poloz says the eventual destination range for his key interest rate target — estimated by his team at between 2.5 and ... More

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

Bank of Canada wants rates back to normal - what that means for your mortgage, line of credit

11/2/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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The benchmark rate set by the central bank is called the overnight rate and it’s now at 1.75 per cent, up from 0.5 per cent in the summer of 2017.

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

Canadians should get used to idea of 3% interest rates

10/31/2018 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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Bank of Canada governor Stephen Poloz wants Canadians to get used to the idea of three per cent interest rates as the new normal, now that the era of rock-bottom ... More

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

Bank Of Canada Interest Rate Hikes Will Cost Canadian Households $2,500 A Year

10/30/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Consumer spending is expected to slow as Canadians spend more on the interest on their debt.

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

Bank of Canada raises interest rate to 1.75%

10/24/2018 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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CIBC, TD, Royal Bank and BMO all hike their prime rates too

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Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Household Debt, Interest Rates, Mortgage Rates Canada, NonMortgage Debt, Variable Rate Mortgages

Pace of interest rate hikes seen picking up with trade deal in hand

10/2/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The new North American trade deal struck on Sunday may open the door for the Bank of Canada to pick up the pace of interest rates hikes, according to economists at some of the ... More

Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Rates Canada, NonMortgage Debt, USMCA, Variable Rate Mortgages

Bank of Canada holds interest rates steady, but October hike looms

9/5/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada (BoC) kept its trend-setting interest rate steady at 1.5 per cent on Wednesday but appeared to keep the door open to a possible rate hike at its ... More

Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, NonMortgage Debt, Variable Rate Mortgages

Bank of Canada raises overnight rate

7/11/2018 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ... More

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

Economic rebound, greater consumer spending imminent

6/27/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Analysts are optimistic that the Canadian economy will bounce back soon, bringing with it increased consumer spending.

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Bank of Canada, Bank of Canada Benchmark Rate, Canadian Housing Market, Consumer Confidence, Economic Growth

Rate hike in July? It's all down to the data

6/25/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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Economists still expect BoC rate rise but the numbers need to stack up.

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Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Household Debt, Mortgage Rates, Mortgages & Real Estate, Variable Rate Mortgages

High household debt, housing market biggest risks to financial system, Bank of Canada says

6/7/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Canada's financial system is resilient, according to the Bank of Canada, but high household debt and imbalances in the housing market remain the biggest ... More

Bank of Canada, Canadian Housing Market, Household Debt

Bank of Canada makes interest rate announcement

5/30/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada kept its key interest rate target on hold Wednesday but hinted that rate hikes could be coming as it noted the Canadian economy was a little stronger than ... More

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

Bank of Canada raises qualifying mortgage rate after Big Six banks hike rates

5/9/2018 | Posted in Home Buyers by Forest Hill Real Estate Signature
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The bar is now higher for homebuyers to qualify for mortgages in Canada after the central bank raised a key metric used in stress tests that determine borrowers’ ... More

Bank of Canada, Big Six, Home Buyers, Mortgage Consumers, Mortgage Trends, Mortgages & Real Estate, Stress Test

U.S. Fed continues to make itself felt in Canadian rates - DLC

5/9/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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Bank of Canada will probably raise rates twice this year, likely in the summer and in fall according to Dominion Lending Centres chief economist Sherry Cooper.

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

Poloz says Canadian household debt of $2T demands cautious approach on rate hikes

5/2/2018 | Posted in Financial Health by Forest Hill Real Estate Signature
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Bank of Canada governor says heavy debt load poses risk to the economy, but he is confident it can be managed.

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Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, NonMortgage Debt

Bank of Canada makes interest rate announcement

4/18/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada is maintaining its trend-setting interest rate as its careful assessment of the timing of future hikes continues amid a backdrop of moderating growth.

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

Bank of Canada to go slow and steady with two more rate hikes in 2018

4/15/2018 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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The Bank of Canada is likely to raise interest rates twice more this year as the economy regains momentum in the current quarter but will hold them steady at its April 18 ... More

Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Variable Rate Mortgages

Bank of Canada maintains overnight rate

3/7/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada maintained its target for the overnight rate at 1 1/4 per cent as expected. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 ... More

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

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