Posts from the ‘Monday Morning Interest Rate Updates’ Category
Monday Morning Interest Rate Update for July 16, 2018
The Bank of Canada raised its overnight rate again last Wednesday despite significant uncertainty about our economy’s near-term prospects. Today’s post offers my take.
Monday Morning Interest Rate Update for July 9, 2018
It is widely expected that the Bank of Canada (BoC) will raise its overnight rate by another 0.25% when it meets this week, and if it does, lenders will pass that increase on to variable-rate mortgage borrowers in short order. The Bank signaled its plans when it made its most recent policy announcement on May […]
Monday Morning Interest Rate Update for July 3, 2018
In its most recent policy statement released on May 30, the Bank of Canada (BoC) gave every indication that it would raise its overnight rate, which our variable mortgage rates are priced on, at its next meeting on July 11. But right afterwards, U.S. President Trump started a trade war with Canada (among other countries), […]
Monday Morning Interest Rate Update for June 25, 2018
When the BoC released its latest policy statement it might as well have hung out a neon sign that said, “We’re hiking rates at our next meeting in July”. Then Murphy’s law kicked in and just about every ensuing economic development from that point forward served to undermine the Bank’s intent.
Monday Morning Interest Rate Update for June 18, 2018
The idea of a trade war with the U.S. seemed ridiculous until very recently. Then again, so too did the idea that Canadian steel (or Canadian anything) poses any sort of threat to U.S. national security. And yet here we are. As our leaders contemplate retaliatory tariffs against President Trump, the U.S. Bully-in-Chief, we must […]
Monday Morning Interest Rate Update for June 11, 2018
The question that follows from last Friday’s weak Canadian employment report is: How will it impact the Bank of Canada’s plans to raise rates again in the near future?
Monday Morning Interest Rate Update for June 4, 2018
Today’s post provides highlights from the Bank of Canada’s latest statement and offers my take on how it impacts the appeal of our variable-rate mortgages.
Monday Morning Interest Rate Update for May 28, 2018
Canadian borrowers are well advised to look carefully at the terms and conditions in their mortgage contract because two mortgages with the same headline rate can come with very different associated costs. To help in that regard, today’s post highlights five important questions to ask when evaluating variable-rate mortgage products.
Monday Morning Interest Rate Update for May 22, 2018
In today’s’ post I simulate three different scenarios for Canadian variable rates over the next five years and provide a rationale for how each might unfold.
Monday Morning Interest Rate Update for May 14, 2018
It’s time for a fresh look at the question every borrower loves to ask: Is now a good time to choose a fixed or variable rate?
Monday Morning Interest Rate Update for May 7, 2018
There is no new post this week but I will be back up and running next Monday as usual. In the meantime, here are links to my five most popular posts thus far in 2018: Canadian Mortgage Rate Forecast for 2018 – Part 1 (Five-Year Fixed Rates) Canadian Mortgage Rate Forecast for 2018 – Part […]
Monday Morning Interest Rate Update for April 23, 2018
The Bank of Canada (BoC) left its overnight rate unchanged last week, as most market watchers expected. The Bank also released its latest quarterly Monetary Policy Report (MPR), which provides us with the Bank’s assessment of the current economic conditions at home and abroad and includes forecasts for key economic data. The overall tone of […]
Monday Morning Interest Rate Update for April 16, 2018
The Bank of Canada (BoC) meets this Wednesday, and while most market watchers aren’t expecting the Bank to raise its overnight rate at this meeting there is still the possibility that its accompanying commentary could push Government of Canada (GoC) bond yields higher, along with the fixed mortgage rates that are priced on them. The […]
What the Canadian Bond Market’s Surprising Reaction to Last Week’s Employment Data Means for Our Mortgage Rates
Monday Morning Interest Rate Update for April 9, 2018
Last Friday Statistics Canada released our latest employment report, for March. It estimated that our economy added 32,300 new jobs last month, which was well above the consensus estimate of 20,000. While the headline result came as a surprise, the much bigger surprise, at least to me, was the bond market’s reaction. Over the past […]