Bay Street still betting on July rate hike
Filed Under Main Content · Tagged: Bank Of Canada, Banks, Basis Points, Bet, Central Bank Governor, Charlottetown, Economists, Global Developments, Global Economy, Global Growth, Households, Interest Rate, Interest Rates, Mark Carney, Ottawa Citizen, Pace, Rate Hike, Stimulus, Temper, Uncertainties
Ottawa Citizen- Bay Street economists are betting the Bank of Canada will raise interest rates again in July even though the central bank governor reinforced Wednesday that more hikes are no sure bet as aggressive budget-cutting measures in Europe threaten the pace of global growth.
In a speech in Charlottetown, Mark Carney said “considerable uncertainties” remain in the global economy, and that the paring back of debt among households, banks and countries had “barely begun, and will … temper the pace” of global growth.
The central bank raised its key interest rate by 25 basis points on June 1, based on stronger-than-anticipated domestic growth. Prior to Wednesday’s speech, the betting among economists and traders was for Mr. Carney to increase rates again on July 20.
Mr. Carney, however, appeared to dampen expectations Wednesday, arguing any further removal of stimulus from the strongest Group of Seven economy over the next two years had to be balanced against global developments…
Bay Street still betting on July rate hike
Rising mortgage rates, rising trouble
Filed Under Main Content · Tagged: Accredited Mortgage, Average Mortgage, Biannual Report, Canadian Mortgage Rates, Current, Globe And Mail, Half A Million, Households, Interest Rate Hike, Mortgage Holders, Mortgage Professionals, Mortgage Rate, National Survey, Rate Environment
The Globe and Mail- Almost half a million more mortgage holders would be in trouble if their rates hit 5.25 per cent, a national survey showed Monday.
Canadian mortgage rates are already climbing ahead of an expected interest-rate hike next month. In light of a rising rate environment, a biannual report by the Canadian Association of Accredited Mortgage Professionals simulated the impact of mortgage-rate increases up to 5.25 per cent. The current average mortgage rate is 4.02 per cent among households that locked-in fixed rates during the past year.
It found that about 375,000 mortgage holders “are already challenged” by their current payments, and another 475,000 might be if their rate rises to 5.25 per cent…
Rising mortgage rates, rising trouble – The Globe and Mail
Time to give yourself a shake
Filed Under Main Content · Tagged: Banks, Calgary Herald, Canada, Households, Sub Prime Mortgage
Calgary Herald – AB, Canada – For instance, the sub-prime mortgage issue in Canada is marginal, banks are stable and lending, households are generally not overstretched financially and …
