Banking
Economy
In Letter To BoC, David Eby Calls Possibility Of Another Rate Hike "Disturbing"
Premier Eby's letter to Bank of Canada Governor Tiff Macklem comes about a week before the Bank of Canada's next policy rate announcement.
Sep 01, 2023
Mortgages
How Much Do Canadians Know About Their Mortgages? It Turns Out Not Much
Most Canadian mortgage holders don’t know their monthly payment ‘without looking it up’ — but experts point out that today's borrowers are facing an unprecedented level of nuance.
Money
“Mortgage Malaise”: Over A Third Of Canadians Regret Their Current Mortgage
The Real Estate and Mortgage Institute of Canada reports that “mortgage malaise” is setting in amongst Canadian borrowers, with 45% anticipating they will be paying off their mortgages until the age of 60.
Money
Despite Sluggish Uptake Amongst Most Major Banks, “Tens Of Thousands” Have Opened An FHSA With RBC
Alongside National Bank, RBC is one of the few major Canadian banks to get their FHSA up and running in April. Scotiabank, CIBC, and BMO have indicated that their FHSAs will be available for customers later this year.
Expert: Interest Rates Are Putting The Brakes On Buying
"We aren't quite out of the woods when it comes to further rate hikes, as frustrating as that may be."
Economy
Opinion: In Defence Of The Bank Of Canada’s Latest Rate Hike
Inflation is down, but it's rarely ever a one-and-done phenomenon — something the BoC is well aware of when implementing a rate hike.
Mortgages
BMO Offering Mortgage Deferrals To Customers Affected By Wildfires
BMO is allowing customers affected by the worst wildfire season of the 21st century to defer their mortgage payments.
Personal Finance
Bank of Canada Holds Key Interest Rate at 4.5%
The Bank of Canada held its target for the overnight rate on Wednesday, maintaining interest rates at 4.5%.
Personal Finance
Bank of Canada Pauses Interest Rate Hikes, Holds at 4.5%
For the first time in a year, the Bank of Canada chose not to raise interest rates, announcing that it will hold its policy rate at 4.5%.
Mortgages
Bad News For Borrowers: "High Odds" of Another Interest Rate Hike This Year
After weeks of favourable predictions that the BoC would end its aggressive rate hike cycle, some in the industry are changing their tune.
Mortgages
HSBC Canada Officially Acquired by RBC for $13.5B
HSBC Canada, the Canadian arm of the British global banking giant, has officially been snapped up by RBC in a $13.5B acquisition.
Mortgages
Mortgage Rate Shoppers Could Lose Key Leverage With HSBC Sale
Given its status as the seventh largest bank in Canada, HSBC offers mortgage shoppers key leverage when negotiating their rates.
Economy
What Canadians Need to Know About Open Banking
Open banking is a system that enables consumers to transfer their financial data between financial institutions and accredited third parties.
Mortgages
Bank of Canada Keeps Key Interest Rate Unchanged
The Bank of Canada announced this morning that it will be holding its key interest rate unchanged at 0.25% for the foreseeable future.
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