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Bank of Canada's Poloz says stimulative rates needed for temporary soft patch

4/2/2019 | Posted in Canadian Economy and Interest Rates by Forest Hill Real Estate Signature
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Poloz's optimism Monday about the future could ease speculation the central bank could lower rates.

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

Bank of Canada to hold interest rates through 2020: TD Securities

3/15/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada will likely hold off raising interest rates through all of 2020, and could even cut rates later this year, according to TD Securities’ senior rates ... More

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

Rising debts could see rise of second mortgages

3/14/2019 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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Canada’s household debt levels will force around 1 in 5 people with debt to sell assets to stay above water.

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Household Debt, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt, Second Mortgages

Bank of Canada maintains overnight rate target at 1.75%

3/6/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada (BoC) is keeping its key interest rate target on hold at 1.75 per cent on Wednesday, citing concerns about the global economy and Canada’s own recent ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Household Debt, Interest Rates, Mortgages & Real Estate

Mortgage delinquencies on the rise

3/6/2019 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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More Canadians are running into serious issues with their mortgage payments according to a new report.

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Bankruptcy, Household Debt, Mortgage Consumers, Mortgage Delinquency, Mortgage Rates Canada, Mortgages & Real Estate, NonMortgage Debt

Why Canadians are suffering a bankruptcy spike

2/25/2019 | Posted in Interest Rates by Forest Hill Real Estate Signature
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The Bank of Canada began raising its key overnight lending rate in July 2017 and it’s now at the highest level in a decade. Accustomed to historically low and even ... More

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

The reason behind 40% of Ontarian insolvencies

2/20/2019 | Posted in Ontario News by Forest Hill Real Estate Signature
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A recent report reveals desperate measures of indebted consumers in Ontario.

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Household Debt, NonMortgage Debt, Ontario, Personal Finance, Private Lenders

More Canadians say they are at risk of insolvency

1/22/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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An increasing number of Canadians say they are concerned about their debts and are edging towards insolvency.

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Household Debt, Interest Rates, NonMortgage Debt, Personal Finance

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

More people are going broke in Canada as interest rates rise

1/9/2019 | Posted in Financial Health by Forest Hill Real Estate Signature
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It's a worrying sign for an economy that has relied so heavily on consumer spending and the housing market to drive growth.

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Bankruptcy, Consumer Confidence, Consumer Spending, Finance, Household Debt, Interest Rates, NonMortgage Debt, Personal Finance

High debt levels, rising interest rates among challenges for 2019

12/19/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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Canada’s economy will slow down in 2019 with consumer spending impacted by weaker employment, cooling house prices, high levels of debt, and rising interest rates.

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Canada, Consumer Spending, Economic Growth, Household Debt, Interest Rates

CMHC issues warning

12/17/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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The prospect of interest rate hikes is particularly daunting for residents of Toronto and Vancouver—two cities with debt levels well above the national average.

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Canada Mortgage and Housing Corporation, CMHC, Household Debt, Interest Rates, Mortgage Consumers, Mortgages & Real Estate, NonMortgage Debt, Toronto, Unsustainable Price Growth, Vancouver, 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

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

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

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.

... More

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

Canadian borrowers will feel this week's U.S. interest rate hike

9/24/2018 | Posted in Mortgage Interest Rates by Forest Hill Real Estate Signature
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The world's biggest central bank is expected to raise rates this week - and then keep raising them

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

Debt continues surging

9/18/2018 | Posted in Financial Health by Forest Hill Real Estate Signature
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Data showing that interest rates are rising faster than income provide a wake-up call to Canadian consumers who are taking on unsustainable amounts of debt.

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Canada, Household Debt, Interest Rates, NonMortgage Debt

Mortgage growth slowed in Q2 says StatsCan

9/13/2018 | Posted in Real Estate News by Forest Hill Real Estate Signature
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Canada’s mortgage industry saw slowing growth in the second quarter of 2018 as stress tests and rising interest rates made an impact.

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Household Debt, Mortgage Consumers, Mortgage Market, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Statistics Canada

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

Interest rate hike may signal hard times ahead

7/12/2018 | Posted in Canadian Economy and Housing Market by Forest Hill Real Estate Signature
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With debt levels disconcertingly high, there could be ramifications to yesterday’s interest rate hike.

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Bank of Canada Benchmark Rate, Canada Real Estate, Economic Growth, Household Debt, Housing Affordability, Mortgages & Real Estate, NonMortgage Debt

Canadians should buy smaller homes in response to interest hike, Bank of Canada head says

7/12/2018 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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As the Bank of Canada raised key interest rates to 1.5 per cent (up from 1.25 per cent) Wednesday morning, mortgage rates are already rising as well.

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Canada Real Estate, Canadian Housing Market, Household Debt, Housing Affordability, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, 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

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

Mortgage borrowing slides to lowest since 2014

6/14/2018 | Posted in Mortgages and Real Estate by Forest Hill Real Estate Signature
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Mortgage borrowing fell $2 billion to $13.7 billion in the first quarter of this year, the lowest level since the second quarter of 2014 according to Statistics Canada ... More

Home Buyers, Household Debt, Mortgage Consumers, Mortgage Market, Mortgage Trends, Mortgages & Real Estate, Statistics Canada

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

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

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