Bank of Canada stands pat on key rate, cites impact of January cut

The Bank of Canada has opted against a second consecutive interest rate cut, arguing that it is already delivering an “appropriate” amount of monetary stimulus to counter the hit from lower oil prices.

Mortgage firms tighten lending standards in Calgary as housing boom turns sour

The oil that fueled Calgary’s housing boom has created the conditions for a bust.Genworth MI Canada Inc., the country’s largest non-government mortgage insurer, said last week it’s preparing for more losses this year and into 2016. 

Jury Out on Mortgage Interest Rates Rising in 2015

Canada’s housing market has enjoyed banner growth over the past few years, but the jury is out on whether the good times will last throughout 2015. New economic risks such as dropping oil prices and the resulting inflation lag have thrown housing market pundits through a loop, and split the once-confident consensus on rate growth this year.

Bank of Canada lowers overnight rate target to 3/4 per cent

For the first time in over four years, the Bank of Canada has changed its target for the overnight rate, which may come as a surprise.

Canadian dollar tumbles below 87¢ amid crude’s ‘relentless drop’

The Canadian dollar tumbled below the 87-cent mark today as oil prices resumed their “relentless drop.”

Variable will continue to trump fixed

The message from several brokers is that variable rates still reign supreme, following a story about one financial professional’s personal mortgage blunder.

Ancient property-transfer tax adds another burden for Vancouver buyers

For Vancouver home buyers who get the shivers at high prices for even run-down houses, there is also the haunting sight of a tax goblin.

The Pros And Cons Of Refinancing A Mortgage Loan

Current refinance rates are at all-time lows; as such, refinancing a mortgage is more attractive than ever before. However, Hale Walker of MiMutual, believes that people need to take into account the entire cost of refinancing and not just how much interest rates will lower.

House prices keep going up but they are more affordable thanks to cheap debt

House prices keep going up in most parts of the country but affordability improved last quarter, according to one of the country’s major banks.

Low mortgage rates showing signs of turning around housing market

Forecasters are hiking their expectations for Canada’s housing market amid signs low mortgage rates are energizing sales, construction and prices.

Bank of Canada Stephen Poloz holds interest rate at 1%

OTTAWA — The Bank of Canada kept its key interest rate on hold Wednesday, warning that the domestic economy is performing at a weaker-than expected pace and growth in the United States is also slower than hoped for.

Housing affordability decreasing across Canada

OTTAWA — It’s becoming increasingly difficult for families to own a home in Canada and affordability is expected to get worse going forward, according to the Royal Bank of Canada.

5 things you need to know about mortgages

People have been buying houses for centuries, so you may think it's easy to get a mortgage. Unfortunately, you can't just walk into a bank and say, "I want to buy a house so give me a loan." The process can take a while and it can be complicated. Here are five things you may not know about the mortgage process. 

Bank of Canada’s Stephen Poloz says interest rates to remain low for years to come

OTTAWA — Canadians can expect to enjoy relatively cheap borrowing costs for some time to come — perhaps years — even after the economy returns to full capacity and the Bank of Canada starts hiking interest rates, bank governor Stephen Poloz said Thursday.

Regulator set to release new mortgage rules

The standards for banks, known in the industry as guideline B20, pushed lenders to be more cautious in areas such as credit checks on borrowers, document verification and appraisals. They also capped the amount that any individual can borrow on a home equity line of credit at 65 per cent of the home’s value.

Why the mortgage rate wars can rage more freely: No Flaherty, no Carney

TORONTO • Why did Bank of Montreal risk a (verbal) slap from Finance Minister Joe Oliver for daring to chop its five-year mortgage rate below 3%?

Bank of Canada keeps neutral view on 1% rate as growth quickens

Bank of Canada Governor Stephen Poloz kept his main interest rate unchanged and reiterated the next move depends on the progress of economic data after early signs of faster growth and inflation.

CMHC to Increase Mortgage Insurance Premiums

OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014.

Government reduces tax burden on first-time buyers!

Today I received great news for first time buyers from the Real Estate Board of Greater Vancouver.

No U.S.-style housing market meltdown for Canada: CIBC

A new report released by CIBC World Markets found that a U.S.-style housing meltdown is not likely to occur in Canada. Benjamin Tal, deputy chief economist at CIBC argues that there are fundamental differences that set the Canadian market apart from the U.S. market.