The US Federal Reserve – the American central bank counterpart to the Bank of Canada (BoC) – held its trend-setting federal funds rate unchanged in a range of 5.25 – 5.5% on May 1.
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On April 10, the Bank of Canada (BoC) announced it was holding its trend-setting Overnight Lending Rate – the benchmark used to set the Prime …
Read articleCanada’s banking regulator, the Office of the Superintendent of Financial Institutions (OSFI), is planning to toughen up borrowing requirements for some mortgage applicants.
Read articleThe latest batch of economic data – the final report before next week’s Bank of Canada announcement – is now in, and it offers optimism that …
Read articleThe federal government released its Fall Economic Statement on Tuesday, and, like in previous iterations, affordable housing and mortgage relief …
Read articleCanada’s banking regulator has not been shy in the past about voicing its concern over variable-rate mortgages with fixed payments, a mortgage product where a borrowers’ payment remains the same, even as the Bank of Canada increases its benchmark rate.
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