Canadian Mortgage Agent, Syed Asif Raza

12/11/2024

Bank of Canada reduces policy rate by 50 basis points to 3¼%
NEW PRIME RATE = 5.45%i

10/23/2024

BREAKING NEWS:
The Bank of Canada has lowered its policy rate by 50 bps to 3.75%

10/15/2024

Annual inflation falls to 1.6% in September, smallest yearly increase since 2021

10/11/2024

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10/08/2024

Mega Rate Cut is coming in Oct. 2024

04/11/2024

04/10/2024

The Bank of Canada held its target for the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.

Banks Prime Rate: 7.20%

02/05/2024

Government extends ban on foreign buying of Canadian housing

The rule, which was first announced in 2022, will now be extended until the beginning of 2027. It bans foreign nationals and commercial enterprises from buying residential property in Canada, with exceptions for some international students, refugee claimants and temporary workers.

02/05/2024

Government extends ban on foreign buying of Canadian housing

The rule, which was first announced in 2022, will now be extended until the beginning of 2027. It bans foreign nationals and commercial enterprises from buying residential property in Canada, with exceptions for some international students, refugee claimants and temporary workers.

https://apple.news/ACiicihp4QICAEwHFkCnoxw

02/05/2024

https://apple.news/ACiicihp4QICAEwHFkCnoxw

Some foreign nationals will continue to be banned from buying Canadian housing, as the federal government extends the expiration of the program until 2027.

01/22/2024

The Bank of Canada's decision to cut interest rates is influenced by several factors, including:

1. **Inflation**: When the central bank perceives spiraling inflation and stress on the economy, it may consider lowering interest rates[2][5].

2. **Economic Expansion**: Strong economic expansion, high employment rates, and stable global economic conditions are factors that inform the central bank's decisions to nudge rates higher. When these indicators reverse course, central banks may lower interest rates[2].

3. **Global Economic Conditions**: The Bank of Canada takes into account global economic conditions when making decisions about interest rates[2].

4. **Mortgage Refinancing Pressure**: Mortgage refinancing pressure can also be a factor in the decision to cut interest rates[2].

5. **Economic Downturn**: The Bank of Canada is expected to cut interest rates in order to avoid a sharper economic downturn than is necessary[3].

These factors, among others, contribute to the Bank of Canada's assessment and decision-making regarding interest rates.

Sources
[1] Bank of Canada Rate Cuts Expected in Second Quarter https://www.wsj.com/articles/bank-of-canada-rate-cuts-expected-in-second-quarter-df2103c7
[2] Will Canada Get an Interest Rate Cut in 2024? https://www.morningstar.ca/ca/news/244334/will-canada-get-an-interest-rate-cut-in-2024.aspx
[3] All eyes on the BoC this week for any hints on when it plans to cut interest rates https://toronto.citynews.ca/2024/01/21/all-eyes-on-the-boc-this-week-for-any-hints-on-when-it-plans-to-cut-interest-rates/
[4] Will the Bank of Canada Cut Interest Rates in 2024? | Zensurance https://www.zensurance.com/blog/will-the-bank-of-canada-cut-interest-rates-in-2024
[5] Bank of Canada will cut three times next year to bring rate to 4.25%, Deloitte predicts https://financialpost.com/news/economy/bank-of-canada-to-cut-rates-three-times-2024-economist

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10/25/2023

BREAKING NEWS
The Bank of Canada has left its benchmark rate unchanged at 5.00%