Mortgage News

OTTAWA (CP) - The loonie took flight again Tuesday, rising over half a cent even as the Bank of Canada cut its key interest rate by a quarter point to 2.50 per cent in an effort to cool the currency and give the economy more room to grow.

OTTAWA - The Bank of Canada left its key overnight interest rate unchanged Tuesday, but signalled that a rate cut may come if the high Canadian dollar shows signs of hurting Canada's export-driven economy.

TORONTO - Banks hiked their mortgage rates across the boardFriday to reflect higher borrowing costs in the bond market – the second round of increases in a month.

OTTAWA - The Bank of Canada today announced that it is maintaining its
target for the overnight rate at 2 3/4 per cent. The operating band for
the overnight rate is unchanged, and the Bank Rate remains at 3 per
cent.

The rate of inflation has fallen farther and faster than anyone expected and is likely to continue dropping over the next few months, the head of the Bank of Canada said Wednesday.

January, February and March are among the busiest months of the year for planning and developing home renovations because construction for many projects begins in the spring when the weather starts to warm up. For most homeowners, a renovation is a substantial financial commitment and deciding how to pay for substantial improvements to your home can be tough. Should you get a loan, refinance your mortgage or use a line of credit? Here are some tips on how to make the decision that's right for you and your renovation plans.

CMHC gives homeowners insurance break

The Bank of Canada's decision this morning may have come as a surprise to financial markets - which had completely priced out any action on the rate front - but ultimately, the central bank threw the optics out the window, and came down with the right decision.

Consumers continue to renew home loans at posted rates, costing them thousands of dollars, according to a new survey from the mortgage broker industry.

Up until recently, self-employed workers had to jump through hoops if they wanted to line up mortgage financing.

OTTAWA - With inflation pressures waning and economic weakness possibly looming on the horizon, the Bank of Canada did the expected on Tuesday and left its key interest rate unchanged.

OTTAWA (CP) - The Bank of Canada raised its key overnight interest rate to 3.25 per cent from three per cent in its scheduled rate setting announcement Tuesday.

To judge by the metaphors we like to use in the media, the job of setting interest rates isn't much harder than driving your car to the shopping centre. Economy going too fast? Just "touch the brakes" by raising interest rates. Too slow? "Give it some gas" by cutting rates.

One-quarter percentage point rise. Bond yields have climbed as capital shifts to equities and U.S. deficit hits record levels

OTTAWA - The Bank of Canada boosted its key interest rate by a quarter of a percentage point Tuesday, saying growing inflationary pressures outweigh concerns that the economy may be slowing.

Part of the service can be to help you restructure debt load

Economists suggest agency's outlook is overly optimistic

OTTAWA (CP) - Housing starts in January declined by 8.7 per cent from December but remained near the highest levels in a decade, Canada Mortgage and Housing Corp. reported Monday.

More first-time buyers use RRSP to help finance purchase

TORONTO (CP) - CIBC is raising the rates on most of its mortgages, effective Saturday.

WASHINGTON (AP) - Americans who have been treated to the lowest interest rates in four decades on home mortgages and many other types of loans should be able to take advantage of those low rates at least until summer, private economists say.

Survey shows many homeowners-to-be

OTTAWA (CP) - As expected, the Bank of Canada left its key overnight interest rate unchanged at 2.75 per cent in its scheduled rate setting announcement Tuesday but warned rates could rise this spring.

Canada's big banks are lowering long-term mortgage rates by about a quarter-point as the cost of financing on the bond market decreases.

The U.S. economy has hit a rough spot, and is likely to remain on a weak footing until the second half of 2003. The Canadian economy is in the midst of a balanced recovery, with both household spending and business investment contributing.

OTTAWA — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 3/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 per cent.