Fewer Interest Rate Hikes in 2012 Expected
Filed Under Main Content · Tagged: Bank Of Canada, Bloomberg, Canadian Economists, Interest Rate Hikes, Rate Increases
Financial Post – Bloomberg News
A Bloomberg survey shows Canadian economists have cut in half their expectations for Bank of Canada policy-rate increases….See full story on this topic »
Bank of Canada rate bump not necessarily a harbinger of hikes to come
Filed Under Main Content · Tagged: Bank Canada, Bank Montreal, Bank Mortgage, Bank Of Canada, Bank Of Montreal, Canada Economy, Discount Mortgage, European Union, Financial Markets, Global Economy, Harbinger, Interest Rates, Key Mortgage, Mortgage Rate, Percentage Point, Rate Increases, Term Bonds, Turmoil, Uncertainty, Vancouver Sun
Vancouver Sun- On the same day the Bank of Canada bumped its key lending rate up, a major chartered bank edged a key mortgage rate down, moves that reflected the continuing uncertainty in world financial markets.
The Bank of Canada on Tuesday became the first G7 central bank to raise interest rates since July 2008, hiking its key overnight lending rate one-quarter of a percentage point to 0.5 per cent in a long-anticipated move aimed at keeping Canada’s recovering economy from overheating.
However, with uncertainty over the global economy mounting due to turmoil in the European Union, the pressure for future short-term rate increases might be easing.
The turmoil has caused interest rates for longer-term bonds to fall, allowing the Bank of Montreal to trim its five-year discount mortgage rate one-tenth of a percentage point to 4.25 per cent…
Bank of Canada rate bump not necessarily a harbinger of hikes to come
Royal Bank hikes mortgage rates again
Filed Under Main Content · Tagged: Bank Canada, Bank Mortgage, Bank Of Canada, Banks, Basis Points, Federal Reserve, Fixed Mortgage, Fixed Rate Mortgage, Homebuyers, Mortgage Rates, Mortgages, Post Canada, Rate Increases, Royal Bank Of Canada, Third Time
Financial Post- Royal Bank of Canada is leading the charge to higher mortgage rates, boosting the cost to new homebuyers for the third time in less than a month.
The country’s biggest bank said Monday it is lifting the rate on most mortgages by 15 basis points.
After hikes of 60 basis points and 25 basis points respectively, Monday’s hike brings the rate on Royal’s five-year closed fixed-rate mortgage to 6.25%.
When Royal hiked rates in late March and earlier this month, the other big banks followed suit soon after.
The banks say they are raising mortgage rates because their own cost of funding is going up ahead of expected rate increases from the Bank of Canada and U.S. Federal Reserve this summer…
Royal Bank hikes mortgage rates again
Canadians not worried about rising mortgage rates
Filed Under Main Content · Tagged: Business Mortgage, Fp, Interest Rates Rise, Investors Group, Mortgage Interest Rates, Mortgage Operations, Mortgage Rates, Mortgages, New Poll, Percentage Points, Rate Increases, Rates Mortgage, Respondents, Said Canadians, Sleep, Vice President, Worry
Times Colonist- Mortgage interest rates may be on the rise, but a new poll shows minimal worry about this among Canadians holding mortgages.
The Investors Group, in announcing results of its poll released Tuesday, said Canadians “may be overly confident that they can take higher borrowing costs in stride.”
Some of the results include 35 per cent of respondents saying they are not worried about their ability to make payments as interest rates rise, and 41 per cent saying it would take rate increases of three percentage points or more to “cause them to lose sleep.”
“Individuals aren’t as concerned as we might have thought they were,” said Peter Veselinovich, the Investors Group’s vice-president of banking and mortgage operations. “And that probably differs from the response we would have got generation ago, where debt was very much seen as that thing you wanted to pay down very quickly.”
