Posts tagged ‘Mortgage Rates’
The Length of Our Recovery Could Have a Surprising Impact on Your Mortgage
Monday Morning Interest Rate Update for June 1, 2020
In his final speech, BoC Governor Poloz argued that fears about coming economic hardship are overblown. Here is my take on his comments, viewed in part through a mortgage lens.
Why CMHC Shouldn’t Raise Its Minimum Down Payment from 5% to 10%
Monday Morning Interest Rate Update for May 25, 2020
Last week, CMHC CEO Evan Siddall floated the idea of increasing the minimum down payment required to purchase a residential property from 5% to 10%. Here is my take.
To Review
Monday Morning Interest Rate Update for May 19, 2020
Here are links to five of my most popular recent posts describing the unusual mortgage market we find ourselves in today and how best to navigate through it.
Will Record Job Losses Lead to Negative Bond Yields?
Monday Morning Interest Rate Update for May 11, 2020
Today’s post explains how our current run of dramatic job losses has increased the odds that Government of Canada bond yields will eventually fall below 0%.
Should You Break Your Fixed-Rate Mortgage for a Lower Rate?
Monday Morning Interest Rate Update for May 4, 2020
Many fixed-rate borrowers are wondering if they can save money by breaking their mortgage and switching to a lower rate. Today’s post provides some examples to help answer that question.
Is the Bank of Canada’s Firehose Working?
Monday Morning Interest Rate Update for April 20, 2020
Here are five highlights from the Bank of Canada’s latest policy statement and Monetary Policy Report with my take on the implications for our fixed and variable mortgage rates.
Our New Canadian Mortgage Landscape?
Monday Morning Interest Rate Update for April 13, 2020
Last week we learned that our economy lost more than 1 million jobs in March. As the significant economic impacts of the lockdown begin to take form, now seems like a good time to speculate on how lenders will adapt their mortgage lending policies to the new reality.
The Bank of Canada Cuts Again and Policy Makers Get Creative
Monday Morning Interest Rate Update for March 30, 2020
Last week the BoC cut its policy rate by another 0.50% and our policy makers took other unprecedented steps to limit the economic damage being done by COVID-19.
Mortgage Strategies for the Coronavirus Crisis
Monday Morning Interest Rate Update for March 23, 2020
Canadian mortgage rates surged higher last week, which surprised borrowers. In today’s post I explain why that happened and offer advice to four different groups of borrowers on how to navigate through the COVID-19 crisis.
Fixed or Variable? To Be Determined …
Monday Morning Interest Rate Update for March 16, 2020
The Bank of Canada and the U.S. Federal Reserve continued to slash their policy rates last week. My next fixed vs. variable simulation will be postponed until these five key questions are answered.
How Much Longer Will the Bank of Canada Stand Pat?
Monday Morning Interest Rate Update for March 2, 2020
The Bank of Canada (BoC) meets this week and the consensus believes the Bank will finally cut its policy rate. Today’s post outlines the factors that are driving that view, and offers my take on why I think the BoC will stand pat (tough call though that is).
How Last Week’s Mortgage Stress-Test Change Will Impact Borrowers
Monday Morning Interest Rate Update for February 24, 2020
Last week our federal government announced that it will change the way the Bank of Canada calculates the stress-test rate that lenders use to qualify all insured mortgage applications. In today’s post I will explain what changed and offer five key observations relating to it.
Our Latest GDP Data Aren’t Likely to Alter the Bank of Canada’s Outlook
Monday Morning Interest Rate Update for December 2, 2019
Last week’s GDP data came in lower than the Bank of Canada expected but I don’t think that will cause the Bank to cut its policy rate when it meets this week.
The Latest Inflation Data Bolster the Bank of Canada’s Patience. But Should They?
Monday Morning Interest Rate Update for November 25, 2019
Last week we learned that overall inflation rose by 1.9% on a year-over-year basis in October.
The consensus believes that at-target inflation will prevent the Bank of Canada from cutting its policy rate in the near future, but I don’t think it should.
The Bank of Canada Can’t Ignore the Lofty Loonie for Much Longer
Monday Morning Interest Rate Update for November 18, 2019
The Bank of Canada’s reluctance to cut its policy rate has caused the Loonie to appreciate against other currencies, creating a headwind that has hurt our export sales. The cost of its continued inaction is growing.
