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Interest Rates

Bank of Canada Key Interest Rate Hikes to 1.25%

The Bank of Canada key interest rate has gone up again, for the third time in the past six months. On January 17, 2018, Canadians learned the BOC interest rate is increasing another quarter of a percent, going up to 1.25%. This is the highest the... Read more

Mortgage Lender News: Impacts of an Interest Rate Increase

After months of speculation and years of an incredibly low interest rate, the Bank of Canada finally announced that the interest rate would increase. With an economy reaching a more stable point, this rate hike is not surprising. Have you, as a lender, felt any impacts yet? Obviously... Read more

Can Canada Handle a Rate Increase?

The numbers are in. The Toronto Star has reported that Canadian household debt hit another record high in the 4th quarter of 2016. This includes consumer credit, mortgage and non-mortgage loans with mortgage debt accounting for 65.5% of the total ($2.029 trillion). According to the article, while... Read more

2017 is Here and Interest Rates Have No Where to Go But…

While 2015 was a fairly active year as far as the Bank of Canada adjusting interest rates, 2016 has remained largely uneventful. Canada began 2016 with a low interest rate of 0.5%, which has remained the status quo throughout the entire year. Economists and the Canadian government alike have... Read more