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Bank of Canada lowers overnight rate target to 1/2 per cent

2015-07-16 | 09:59:59

FOR IMMEDIATE RELEASEMedia Relations613 782-8782Ottawa, Ontario15 July 2015The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is...

Your Mortgage Penalty Was How Much??

2015-07-13 | 12:02:40

Someone recently asked if I could describe the various penalties associated with breaking a mortgage prior to the maturity date.Generally speaking, lenders usually use a 3 month interest penalty, or an Interest Rate Differential penalty (IRD). The...

Canadian Jobs Data Weak As Expected

2015-07-10 | 07:53:29

Canada lost 6400 jobs in June, with the unemployment rate stable at 6.8%.  Economists had expected a weak employment report for June on the heels of the larger-than-expected gain in May. Canadian employment fell by 6,400 last month as the...

Economic Hightlights of the Week

2015-06-08 | 06:38:31

HIGHLIGHTS OF THE WEEKCanada•    After last week’s news that Canada’s economy contracted in Q1, Friday’s positive job reports in both Canada and the U.S. helped underpin another leg up in bond yields. The Loonie didn...

Mortgage Market Insight

2015-06-01 | 12:41:42

Market CommentaryInterest rates remain squarely in the crosshairs of market watchers. The latest, very weak, GDP numbers have even casual observers perking up over the prospect of another Bank of Canada rate cut.The 0.6% contraction in first quarter...

Bank of Canada Maintains Rate

2015-05-27 | 09:07:34

As was widely expected, the Bank of Canada left overnight rates unchanged at 0.75 percent and reiterated earlier comments about the likely trajectory of the Canadian economy. The Bank is more optimistic about the economy than private sector...