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Unveiling the world of real estate, we bring you an exclusive window into international and Toronto real estate market insights, cutting-edge design, lifestyle trends, and beyond – all curated to inspire, inform, and indulge your property passions.
Bank of Canada Holds Key Interest Rate
The Bank of Canada has decided to maintain its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. This announcement is expected to add to the already strong real estate market in Toronto, which has seen increasing prices due to historically low levels of supply.
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening.
Inflation around the world remains high and broadly based. Global economic growth is slowing, although it is proving more resilient than was expected at the time of the October Monetary Policy Report (MPR). In the United States, the economy is weakening but consumption continues to be solid and the labour market remains overheated. The gradual easing of global supply bottlenecks continues, although further progress could be disrupted by geopolitical events.
Bank of Canada increases interest rate by 50 basis points
The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is also continuing its policy of quantitative tightening.
The Federal Budget 2021 | Real Estate
High housing costs, especially in urban centres, continue to place middle class and low-income Canadians under huge financial pressure.
A long-term plan for a faster-growing Canadian economy must include housing that is affordable for working Canadians, especially young families. Stable housing is critical for communities and for a strong middle class.
Bank of Canada Lowers Overnight Rate Target to 1 1/4 percent
The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent.
While Canada’s economy has been operating close to potential with inflation on target, the COVID-19 virus is a material negative shock to the Canadian and global outlooks, and monetary and fiscal authorities are responding.
Bank of Canada Lowers Rate Used in Mortgage Stress Tests
Bank of Canada Lowers Rate Used in Mortgage Stress Tests | A key Canadian interest rate used by lenders to determine who can qualify for a mortgage has dropped for the first time in almost three years, potentially giving the country’s housing market a near-term boost.
The Bank of Canada lowered its 5-year conventional mortgage rate on Wednesday to 5.19%, from 5.34%, where it had been since May 2018. It’s the first decrease since August 2016. The rate is an indicative measure based on average price quotes from financial institutions.
Bank of Canada announces interest rate decision
Bank of Canada announces interest rate decision | The Bank of Canada left its trend-setting interest rate unchanged at 1.75% on Wednesday as the sharp decline in oil prices temporarily dims its economic outlook for the coming months. Before long, however, the central bank expects the economy to expand with renewed vigour. More rate hikes, it stressed, will be necessary “over time”.