Shaune Impey - Mortgageline Mortgage Architects

02/06/2024

An excerpt from a Financial Post interview with Benjamin Tal, CIBC Chief Economist. Rate decreases in June or July?

Larysa Harapyn recently interviewed CIBC's Benjamin Tal. He pointed to signals the Bank of Canada's (BoC) rate cycle is at its peak and rates will start coming down this summer.
BoC will wait for signals indicating "inflation is dead" before dropping its overnight lending rate
BoC "overnight rate" cuts of approximately 1.50% by end of 2024
Federal Reserve in USA likely to reduce by its overnight rate 1.00% by end of year
We will see a strong economic environment in second half of the year

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07/12/2023

Bank of Canada raises interest rate 0.25% as many predicted.

https://www.bankofcanada.ca/2023/07/fad-press-release-2023-07-12/

02/08/2023

The entire announcement from the Bank of Canada.
Rate increases on hold for now.

This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 25, 2023.

02/08/2023

https://www.ctvnews.ca/business/bank-of-canada-releases-details-on-interest-rate-decision-for-the-first-time-1.6265265

CTV news summary of the Bank of Canada news release.
B of C rate on hold for now.

The Bank of Canada released a summary of its Governing Council meetings on Wednesday, providing the public and financial institutions with more insight into the central bank’s decision to raise its key interest rate on Jan. 25.

12/21/2022

Watch for new HELOC rules coming in late 2023. Call your favourite Mortgage Broker for more info.

https://www.cbc.ca/news/business/heloc-debt-fcac-1.4978987

10/26/2022

https://www.bankofcanada.ca/2022/10/fad-press-release-2022-10-26/

The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%.

09/07/2022

Bank of Canada increase rate by 0.75%. Adjustable rate mortgages and HELOCs will see higher payments. Variable rate mortgages will see less paid down on principal. Contact your Mortgage Broker for more info.

The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%.

08/15/2022

Dryer venting tips. Make your home safer and more energy efficient.

Steve Maxwell, Canada's Handiest Man, informs homeowners about improved dryer vent inventions, which are more aesthetically pleasing and safer too.

06/28/2022

Potential changes coming to readvanceable mortgages. More to come once directions are clearer.

Today, the Office of the Superintendent of Financial Institutions (OSFI) released a new Advisory (Clarification on the Treatment of Innovative Real Estate Secured Lending Products under Guideline B-20). The Advisory complements existing expectations under Guideline B-20, which articulates OSFI’s e...

06/01/2022

The Bank of Canada boosted their rate by 0.50% today. To quantify the impact, anyone with an adjustable mortgage (fluctuating payments) will see an increase to their monthly payment of about $26/$100k of mortgage balance. HELOC rates will also increase 0.50%. Variable rate payments will not change however more of the payment will go towards interest. Contact your mortgage broker for more info.

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%.

04/17/2022

Insulation options for more efficient construction.

Steve Maxwell, Canada's Handiest Man, explains four insulation options to ensure your new home or addition is energy efficient.

04/13/2022

As predicted by many economists the Bank of Canada raised its rate by 0.50% to 1.00%. Those with variable rate, adjustable rate or HELOC mortgages will be paying more interest. About $25/month per $100k more for adjustable mortgage payments. Those with a true variable rate mortgage won't see a payment change however a larger portion of your payment will go towards interest. Contact your Mortgage Broker to learn more about fixed payments on a variable rate mortgage.

The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%.