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Happy Holidays!!
Posted on
December 21, 2022
by
Graham Ogden
Bank of Canada raises the key interest rate by one-half of a percentage point (0.50%), bringing it to 4.25%
Posted on
December 7, 2022
by
Graham Ogden
The Bank of Canada has raised its policy rate to 4.25% today, stating borrowing costs need to rise to bring inflation back to target of 2% from the current rate of 6.9%. This marks the seventh consecutive rate increase in 2022. "We're expecting roughly zero growth (in the Canadian economy) for the next several quarters and to be more specific, the last quarter of this year the first half of next year", said Bank of Canada Governor, Tiff Macklem, recently. Climbing interest rates, dramatic declines... November 2022 Real Estate Statistics
Posted on
December 7, 2022
by
Graham Ogden
Recap of Real Estate Activity August 2022
Posted on
September 7, 2022
by
Graham Ogden
Today’s Bank of Canada rate hold announcement marks almost four straight years that the key benchmark rate has remained unchanged, since September 8, 2010. Great news if you have a variable-rate mortgage or home equity line of credit; the prime rate stays at 3%.
The announcement noted that “the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished.” With these considerations, the Bank is maintaining its monetary policy stimulus, and remains neutral with respect to the timing and direction of the next change.
The next rate-setting day is October 22nd. |
