Tag: Variable Mortgages

Bank Of Canada Holds Benchmark Rate Steady At 0.5 Per Cent In 2017

Bank Of Canada Holds Benchmark Rate Steady At 0.5 Per Cent In 2017The Bank of Canada is holding its benchmark interest rate unchanged at 0.5 per cent and providing a deeper concern on the risks associated with the big economic changes expected to come out of a Trump presidency. On one side central bank’s keeping on with the same interest rate shows improvement signs of Canadian economy but it also warn uncertainty attached due to potential policy changes expected from the United States, after all we are the largest trading partner.

Following is the news article from Mortgage Intelligence is especially selected for the blog readers that are looking to get especially a mortgage in 2017 at the same lower rates, although, it’s been expected to stay benchmark interest rates low in Canada till 2020 with a possibility of further cut down in rates if the Canadian economy continues to contract:

Bank of Canada holds benchmark rate steady at 0.5%.

Mortgage Intelligence
12.07.2016

Bank of Canada holds benchmark rate steady again.

The Bank of Canada announced today that it is holding the benchmark interest rate unchanged at 0.5%, noting that “growth in the 3rd quarter rebounded strongly, but more moderate growth is anticipated in the 4th” and that “a significant amount of economic slack remains in Canada.” Bond yields have crept higher since the U.S. election, reflecting “market anticipation of fiscal expansion in a U.S. economy that is near full capacity.” Higher bond yields have caused our fixed mortgage rates to rise in conjunction.

This fall, the Ministry of Finance introduced four new mortgage tightening measures intended to cool the housing markets (aimed primarily at Vancouver and Toronto), reduce foreign investor home flipping, and control the levels of Canadian household debt. The Ministry also has introduced risk sharing on mortgages for the Chartered Banks which puts upward pressure on mortgage rates as lenders need to set aside higher levels of capital for certain types of funds. More than half of Canada’s $1.4 trillion home loan market is made up of insured mortgages with all of the risk on the Canadian taxpayer – and that is now changing. On November 1, one of the Chartered Banks’ mortgage prime rate for variable mortgages jumped 0.15 points to 2.85 per cent, and it’s expected others may follow.

The Central Bank has predicted throughout 2016 that it expects oil prices and the Canadian dollar to stay close to the $49 US for a barrel of crude (currently around $51.85 US per barrel at December 5th), and 77 cents US for the Canadian dollar (currently at 75 cents US at December 5th). Low interest rates help keep the Canadian dollar low which in turn aids our export market, however global demand for our products has stalled. The European Union members’ debt crisis, global oil-price collapse, and Brexit have undermined markets and consumer confidence. In addition, the uncertainty over our trade position with the U.S. as a result of the U.S. election is expected to delay capital spending and business investment in Canada.

We expect to see interest rates staying low in Canada well into 2020 and the benchmark interest rate can be cut further if the Canadian economy continues to contract. The Bank of Canada believes it must continue its monetary policy of ultra-low rates to control inflation, stimulate other sectors of the economy besides housing and spur our Canadian export market.

Professional mortgage advice has never been more important. Get in touch today for expert mortgage advice tailored to your situation and local market conditions, and access to as many options as possible if you are planning a purchase, or want to use today’s low rates to refinance and save thousands by moving your high interest debt to your low-rate mortgage.

Bank Of Canada holds benchmark rate steady at 0.5 per cent in 2017; lets see what unknown big economic changes of Trump presidency may bring any change to our financial forecast. Hope for the best, good luck.

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What Makes Lowest Rate As The Best Mortgage Feature

How To Get Lowest Mortgage Rates? Lowest rate as the best mortgage features.How To Get Lowest Mortgage Rates?

Mortgage is one of the largest life time investment that can save you thousands of dollars if you do it right. Most of the consumers looking to get an ideal deal, spend their full effort on studding variety of essential mortgage features, it’s not bad because every feature is equipped with some positive things that can help you in going through with your long term investment/loan smoothly and successfully but you should always first concentrate on mortgage feature that determine interest rates over your mortgage, don’t bypass your very first and important question that can award you the cheapest mortgage interest rates; how to get lowest mortgage rates?

Mortgage rates history statistics can show you the highest and lowest mortgage rates in Canadian history and it will not help you in finding out how many customers have taken advantage of getting best rates at that time but there were lot more mortgage borrowers that didn’t get lowest mortgage rates at that time when it were historically lowest only because they didn’t compare mortgage rates to get lowest rate; yes, mortgage rates comparison is one of the best mortgage features to get best mortgage rates that should not be neglected in any case, shopping around help home-buyers to earn a great deal.

Lowest rate feature is the best among other essential mortgage features! According to the consumer’s surveys and study; Canadians have been considered as a slow adopters to the online interest rate comparison sites but with the time now online surveys start showing more than 50 per cent of Canadian mortgage customers have become more aware of the fact that lowest rate feature is one of the best mortgage features, Where Bank of Canada study found justifies the statement, lowest rate as the best mortgage feature; “mortgage customers that don’t compare mortgage rate, pay $759 to $1617 in their premium on said home financing”.

Compare mortgage rates to get lowest rate has become so easy and fast today, you can get all the current rates and, promotional offers, live news and all the related information online. Take some time to collect rate offers of various including your favorite mortgage lenders, brokers, and or banks from their sites and as well as check other interest rate comparison web sites to select an affordable and ideal deal accordingly. Moreover, to get better rates and savings you should try to become better informed about your choices and also compare prices with other features, read the fine print on contracts and keep looking at the upcoming news. Don’t you think? Internet has made it easy for you to shopping around that’s the well worth your effort, online environment is the best option to fetch most current mortgage rates for fixed and variable mortgages and the further developments in the due course, and before taking decision, don’t forget to get all the answers to clear your doubts, when you felt ready negotiate your price once again to get lowest mortgage rates possible; after all its one of your largest life time transaction.


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