Banks boosting mortgage rates – The Globe and Mail
Filed Under Main Content · Tagged: Ahead, Canada Banks, Fixed Mortgage, Fixed Term Mortgage, Globe And Mail, Globe Mail, Mortgage Rates, Real Estate Market, Spring Real Estate
Several of Canada’s big banks are raising most of their fixed-term mortgage rates ahead of the busy spring real estate market.
Banks boosting mortgage rates – The Globe and Mail
Bank of Canada bumps up rate
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Basis Points, Belief, Budget, Calgary Canada, Calgary Herald, Canada Banks, Caution, Commercial Banks, Economy, Global Recovery, Governments, Growth Outlook, Households, Interest Rate Decision, Pace, Prime Lending Rates, Rate Hike, Temper
Calgary Herald- The Bank of Canada raised its benchmark policy rate by 25 basis points to 0.75 per cent, even though it scaled back its growth outlook on the belief budget cutting among households and governments in advanced economies will "temper" the pace of the global recovery.
Many of Canada’s commercial banks followed suit by raising their prime lending rates.
The central bank acknowledged the economy is weaker than initially believed — but not feeble enough to call off yet another rate hike and likely more in the future.
Certainly, the interest-rate decision delivered yesterday teemed with caution. The central bank’s statement accompanying its decision highlighted how a "greater emphasis" on budget cutting among governments and households would slow the pace of the global recovery…
Canadian banks boost mortgages
Filed Under Main Content · Tagged: Bank Of Canada, Canada Banks, Canadian Banks, Canadian Mortgages, Canadians, Fixed Rate Mortgage, Fixed Rate Mortgages, Globe And Mail, Interest Rate, Interest Rates, Monday Morning, Mortgage Rates, Percentage Points, Reminder, Royal Bank Of Canada, Ry, Signs, Variable Rate Mortgages
The Globe and Mail- Two of Canada’s largest banks are raising rates on some fixed-rate mortgages, a reminder that mortgage rates can go up before the central bank’s key interest rate does.
The move comes as many Canadians with variable-rate mortgages have been anxiously watching for signs of exactly when the Bank of Canada will begin hiking interest rates, in a bid to wait and lock into a fixed-rate mortgage at what they hope will be the ideal time.
Royal Bank of Canada (RY-T59.24-0.58-0.97%) , the country’s largest bank, said Monday morning that it is raising the rate on three-year closed fixed-rate mortgage by 0.20 percentage points to 4.35 per cent. The four-year closed rate will increase by 0.40 to 5.34 per cent, and the five-year closed rate will rise by 0.60 percentage points to 5.85 per cent.
Canadian banks boost mortgages – The Globe and Mail
Canada odd man out as finance ministers meet
Filed Under Main Content · Tagged: Banks Canada, Banks In Canada, Canada Banks, Canadian Banks, Canadian Financial Institutions, Canadian Position, Finance Ministers, Financial Crisis, Globe And Mail, Odd Man, Public Money, Strict Regulation
The Globe and Mail – “Without being immodest, these kinds of recommendations have the world converging toward the Canadian position,” Mr. Flaherty said. “As you know, we have strict regulation of our banks in Canada. Our banks are conservatively managed. They’ve maintained high capitalizations. We have not had to put any public money into Canadian banks or Canadian financial institutions. Our Canadian banks have been able to raise money in equity markets, raise capital in equity markets even during the financial crisis.”…
Canada odd man out as finance ministers meet – The Globe and Mail
