All smoke and no fire

The Bank of Canada kept its trendsetting interest rate at rock-bottom levels on Wednesday, holding off on planned increases aimed at controlling surging inflation.The central bank’s overnight rate remains at 0.25%, a rate it adopted in a drastic drop in the early days of the COVID-19 pandemic.The move is in

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Milton Mortgage: How to Find a Mortgage Broker

In the second quarter of 2021, the value of mortgages given by non-bank mortgage lenders in Canada amounted to $72.1 billion, up by 50.5 percent from the second quarter of 2020. Selecting a mortgage is likely the most important financial choice you’ll ever make — and one of the most

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How to Apply for a Mortgage in Milton, Ontario

When learning how to apply for a mortgage, there is no difference if you are a first-time homebuyer or preparing to move from an existing property. You have a daunting task, and there are lots of choices available when searching for a mortgage broker in the Milton, Ontario, area. So

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Stricter Stress Tests Coming For New Mortgages

Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage. The Office of the Superintendent of Financial Institutions (OSFI) confirmed on Thursday May 20th, 2021 that it will move ahead with its stress test changes first announced last month, which will apply to

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Central Bank Announcement Last Week

Last week, the Bank of Canada made its third interest rate decision of 2021 and presented projections for inflation and growth in the economy. The announcement came just as Statistics Canada reported that the consumer price index was higher by 2.2% year over year in March and as speculation ramped

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Bank of Canada and Quantitative Easing Update

The Bank of Canada is signaling that it will be the first of the G7 countries to start taking it’s foot off the gas as it will start to slow the pace of the purchasing of Canadian Government Bonds. The Quantitative Easing program key tool used to keep interest rates

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