Al Zayat, Senior Mortgage Associate

06/01/2022

The Bank of Canada has raised its overnight target rate by a half-point, bringing it to 1.50%.

This is the Bank’s second consecutive 50-bps rate hike and was fully expected by markets.

In its statement accompanying the decision, the Bank said, “The risk of elevated inflation becoming entrenched has risen. The Bank will use its monetary policy tools to return inflation to target and keep inflation expectations well anchored.”

As a result, the Bank said interest rates “will need to rise further.”

Banks and other financial institutions are expected to raise their prime rate in the coming days, which will increase rates for variable-rate mortgage holders.

The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%.

04/24/2018

Stephen Poloz is trying to figure out how to bring historically low interest rates to more normal levels without triggering another downturn.

01/23/2018

1) Calgary to continue to carry pace in 2018 2) Fed raise rates - cdn bond yields increase resulting in fixed mortgage rate increases 3) NAFTA talks fail, no BoC rate increases, maybe a rate cut - says economist

While stricter rules around qualifying for a mortgage remains a question mark for people in the housing business, other economic signs point to positives ahead. This is what members of BILD (B…

12/06/2017

The Bank still states that "higher interest rates will likely be required over time"

The Bank of Canada has decided to keep its benchmark lending rate steady at one per cent, pausing after two small hikes earlier this year.

03/01/2017

Says it is keeping an eye on economic uncertainties

02/08/2017

Finance Minister Bill Morneau will be invited to the next Standing Committee on Finance meeting to discuss the Canadian Residential Real Estate Market, following a suggestion that he should answer ...

02/02/2017

Home sales in the Calgary market have jumped from their record lows of a year ago but remain well below the longer-term average

02/02/2017

Calgary’s income growth gained ground on the city’s home price increases over the past few years

12/07/2016

No change to Bank of Canada

The Central Bank has made its final rate announcement of the year

11/01/2016

TD Canada Trust has increased their prime rate from 2.70% to 2.85% resulting in an increase in their variable rates. We may see other institutions follow suit.