General Michael Distefano 24 Jan
The Bank of Canada has left its policy rate unchanged in its first announcement of the year, keeping rates where they are for a fourth straight decision but giving little indication of a timeline for possible cuts. The central bank revealed on Wednesday that its overnight rate, which leads variable mortgage rates in Canada, would […]
Read MoreGeneral Michael Distefano 9 Jun
The Bank of Canada cited continuing strength in the labour market in announcing its decision to raise its key overnight lending rate to 4.75 percent. By Josh Rubin Business Reporter Friday, June 9, 2023 A help wanted sign is seen in a storefront along Queen St. W. in Toronto. Strong job growth and a tight […]
Read MoreGeneral Michael Distefano 7 Jun
The central bank has returned to rate increases after a pause By Fergal McAlinden The Bank of Canada has announced a 25-basis-point increase to its benchmark interest rate, returning to a rate-hiking policy after hitting a pause in its last two announcements. The move, which brings that trendsetting rate to 4.75%, arrives amid a flurry of […]
Read MoreGeneral Michael Distefano 6 Jun
When it comes to saving money, there are a lot of little things you can do that add up to make a big difference! Here are 10 of my favorite money-saving tips to help get you started today: Automatic Savings are one of the most effective ways to save because you can’t spend what you […]
Read MoreGeneral Michael Distefano 18 May
Nearly all’ mortgages will see payments increase by 2026 – but most households should cope The Bank of Canada has expressed its concern over households’ ability to absorb the shock of higher borrowing costs as a growing number turn to credit cards to service their debt loads. In its annual Financial System Review, released […]
Read MoreGeneral Michael Distefano 25 Jan
By Josh Rubin Business Reporter Wed., Jan. 25, 2023 Central bank signals its rate-hiking campaign could finally be over, while it “assesses the impact of the cumulative interest rate increases.” The interest rate hikes are over — probably. The Bank of Canada raised its key overnight lending rate for the eighth straight time Wednesday morning but […]
Read MoreGeneral Michael Distefano 9 Jun
Bank of Canada says some Canadians could see mortgage payments jump 45% in 2025-26 Central bank highlights rising debt loads and falling home prices among risks The Bank of Canada released its annual financial system review Thursday. Some Canadians who took out mortgages in 2020-21 could see their monthly payments jump by as much as […]
Read MoreGeneral Michael Distefano 28 Apr
Mortgage Refinance Learn what it means to refinance your mortgage loan and how this could help you reach your goals. Refinancing your mortgage means renegotiating your existing mortgage loan agreement. You might do this to consolidate debts, or you could use the equity in your property to increase your mortgage loan amount for large expenses. […]
Read MoreLatest News Michael Distefano 26 Apr
High inflation has become such a risk to the economy, the central bank will do anything to slow it. That might include raising interest rates higher than already aggressive forecasts have called. This was the message from the Bank of Canada (BoC) at the Standing Committee on Finance today. The central bank Governor made […]
Read MoreMortgage Tips Michael Distefano 19 Aug
Saving to buy a home is so much more than putting together a down payment. Down payments receive all the attention as you save to buy a property. If you take some time to plan for other expenses related to closing on your property, you won’t be surprised by the actual amount you should have […]
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