Canadians took out fewer new mortgages in Q4 while debt continued to increase
TORONTO – Canadians took out fewer new mortgages even before interest rates began to rise last week, but consumer debt continued to increase in the fourth quarter, Equifax said in a report. The company said […]
Read More about Canadians took out fewer new mortgages in Q4 while debt continued to increaseBank of Canada hikes key interest rate from emergency low to combat rising inflation
Bank of Canada building, Ottawa (photo: shankar_s via Wikimedia Commons) OTTAWA – The Bank of Canada has raised its key interest rate for the first time since slashing the benchmark rate to near-zero at the […]
Read More about Bank of Canada hikes key interest rate from emergency low to combat rising inflationMacklem says Bank of Canada needs to raise rates to moor inflation expectations
OTTAWA – Canada’s top central banker says raising the Bank of Canada’s benchmark interest rate may be costly for households, but waiting longer to act would be more costly for the country. Governor Tiff Macklem […]
Read More about Macklem says Bank of Canada needs to raise rates to moor inflation expectationsInterest rate hike won’t cool housing, say experts
TORONTO – Housing experts say prospective homebuyers hoping Wednesday’s interest rate hike will cool the country’s heated real estate market will likely be disappointed. They believe pent-up demand for homes is so high and supply […]
Read More about Interest rate hike won’t cool housing, say expertsCanadian banks hikes prime rate 25 basis points in line with Bank of Canada raise
Numerous Canadian banks said Wednesday that they are increasing their prime interest rate by 25 basis points following the Bank of Canada’s rate announcement earlier in the day. The central bank said it was increasing […]
Read More about Canadian banks hikes prime rate 25 basis points in line with Bank of Canada raise