More Rate Cuts In The Near Future?
The Bank of Canada (BoC) implemented its third consecutive interest rate cut on Wednesday, as it aims to strike a balance between controlling inflation and fostering economic growth.
More Room For Rate Relief
People hoping for more interest rate cuts from the Bank of Canada have been getting some good news.
How Homeowners Can Navigate Their Mortgage Renewal Amid Higher Interest Rates
In 2024, approximately 2.2 million mortgages in Canada are up for mortgage renewal, representing over 45% of all outstanding mortgages, as per data from the Canada Mortgage and Housing Corporation (CMHC).
Bank Of Canada’s July Rate Cut
The Bank of Canada cut interest rates for a second consecutive decision on Wednesday (July 24), bringing a sigh of relief to many homeowners and prospective buyers.
Bank of Canada Cuts Target Interest Rate By 0.25%
The Bank of Canada’s decision to lower its key lending rate by a quarter point to 4.75% today is welcome news for many borrowers.
Although the impact of a single rate cut is limited, it signals the start of the central bank’s easing cycle, with more rate cuts anticipated later this year and into the next.
Mortgage Interest Rate Cuts In June?
February’s inflation numbers suggest a possible shift in the monetary policy stance of the Bank of Canada, with speculation rising that it may opt for its first mortgage interest rate cut as early as June.
Too Early For Rate Decrease: Bank of Canada
The Bank of Canada’s Governing Council is hesitant to pinpoint when they might begin easing interest rates, as indicated in the summary of discussions from their January 24 meeting.
Bank of Canada Holds Interest Rate in January 2024
As widely anticipated by markets, the Bank of Canada decided to maintain its overnight target rate at 5.00%, a position it has held since July.