The latest Bank of Canada announcement on its key overnight rate was viewed by many as signalling bad news for variable rate mortgages. While restating its commitment to keeping the rate at the lower bound of 0.25%, the Bank revised its inflation target, forecasting that it would be sustainable by the second half of 2022 [&hellip…
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Rates are climbing for the first time in over a year, but bargains are still out there Author of the article:MoneyWiseJoseph Czikk Publishing date:Mar 16, 2021 Homebuyers and homeowners rushed to join the party when the COVID-19 crisis produced some of the cheapest mortgages Canadians had ever seen.Kia reveals its all-new EV6 electric crossover’s Dirt-cheap [&hellip…
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The Bank of Canada delivered welcome news for variable-rate mortgage holders today when it stood by its expectation of no rate hikes until early 2023. “We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved,” reads [&hellip…
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