by Kara Herbeson | Feb 17, 2023 | Announcements, Blog, Economy
In its very first summary of deliberations released this month, the Bank of Canada (BoC) pointed to a tight labour market, strong GDP growth and the risk of inflation getting stuck above 2% as the rationale for raising its key rate by a quarter of a percentage point...
by Kara Herbeson | Jul 15, 2022 | Announcements, Blog, Economy, Homeownership
In an effort to stabilize the economy and curtail rising inflation and hot housing markets, the Bank of Canada (BoC) has been steadily increasing interest rates – most recently on July 13th when the overnight rate rose a full percent, which was the fourth consecutive...
by Kara Herbeson | Feb 4, 2022 | Announcements, Blog, Finance, Homeownership, Mortgage
In its first policy interest rate announcement of the year – on January 26th – the Bank of Canada (BoC) maintained its current record-low rate of 0.25%. The decision was in line with 2021 forecasts that a rate hike would occur in the second or third quarter of 2022....
by Kara Herbeson | Jul 16, 2021 | Announcements, Blog
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance on the path for the overnight rate....
by Kara Herbeson | Mar 5, 2021 | Announcements, Economy, Finance, Homeownership
Economic and future forecasting typically involves the calculation and analysis of a number of key variables such as inflation, interest rates, consumer confidence and unemployment. In today’s unconventional and unpredictable environment, additional considerations are...
by Kara Herbeson | Feb 19, 2021 | Announcements, Blog, Homeownership
For many Ontarians, buying a new home represents a more suitable option than buying resale. The residential construction industry represents one of the largest sectors in the country, with the Canadian Home Builders’ Association reporting that 25% of all homes...