Mortgage - Fix Team

2021 home sales set new record, tops previous high by 20 per cent: CREA

By:Building .caPosted: Jan 18th, 2022In: ConstructionNews

The Canadian Real Estate Association says annual home sales reached a new high in 2021, eclipsing the previous record set in 2020 by about 20 per cent. The association said Monday that about 667,000 residential[...]

Federal banking regulator holds uninsured mortgage stress test rate steady

By:Building .caPosted: Dec 21st, 2021In: ConstructionNews

OTTAWA – The federal banking regulator is keeping the interest rate used in a key stress test for uninsured mortgages on hold. The Office of the Superintendent of Financial Institutions said Friday the minimum qualifying[...]

BoC to maintain inflation mandate, will consider job market in rate decisions

By:Building .caPosted: Dec 13th, 2021In: ConstructionNews

OTTAWA – Canada’s central bank has been told to keep the annual pace of price gains at its historic target, but also to help build up the labour market. Since 1991, the Bank of Canada has targeted an annual inflation rate of between one and three[...]

Bank of Canada keeps key interest rate target on hold at 0.25 per cent

By:Building .caPosted: Dec 8th, 2021In: ConstructionNews

OTTAWA – The Bank of Canada is keeping its key interest rate target on hold at its rock-bottom level of 0.25 per cent. In a statement, the central bank also said Wednesday it doesn’t expect to raise the trendsetting rate until some time[...]

Bank of Canada deputy says households may be more impacted by rise in interest rates

By:Building .caPosted: Nov 25th, 2021In: ConstructionNews

OTTAWA – A senior official at the Bank of Canada says the number of highly indebted households appears to be back on the rise as pandemic aid from governments winds down. In a speech to a conference held by the Ontario[...]

End of quantitative easing shadows Liberals’ consultation on managing federal debt

By:Building .caPosted: Nov 2nd, 2021In: ConstructionNews

Deputy Prime Minister Chrystia Freeland discusses Canada’s economic recovery in a virtual conversation hosted by the Canadian Chamber of Commerce on October 27, 2021. OTTAWA – The Bank of Canada’s move to end its pandemic-driven[...]

Bank of Canada warns on prolonged inflation, ends bond buying program

By:Building .caPosted: Oct 28th, 2021In: ConstructionNews

Bank of Canada Governor Tiff Macklem (photo: Bank of Canada @bankofcanada Twitter) OTTAWA – The Bank of Canada is warning inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be[...]

Annual inflation rate hits 4.4 per cent in September, Statistics Canada says

By:Building .caPosted: Oct 21st, 2021In: ConstructionNews

OTTAWA – The cost to put food on the table and gasoline in the car pushed up the cost of living in September, lifting the annual pace of price increases to a near two-decade high with no clear end[...]

Push to send vaccines to developing nations a global economic win: BoC chief

By:Building .caPosted: Oct 9th, 2021In: ConstructionNews

OTTAWA – The governor of the Bank of Canada pressed the case for COVID-19 vaccines to be sent to developing nations as part of a broader push to not only end the pandemic, but aid[...]

Little room for feds to issue long term debt unless central bank steps in: documents

By:Building .caPosted: Oct 6th, 2021In: ConstructionNews

Bank of Canada (Photo: d.neuman from Ottawa, Canada via Wikimedia Commons) OTTAWA – Newly released documents show the Liberals were told earlier this year that the government’s bid to lock in low interest rates on[...]