Jeet Nagi

06/14/2022

Retreating investors from the housing market may put downward pressure on prices....

Canadian housing investors accounted for over 22 percent of mortgaged purchases in the fourth quarter of 2021.

03/03/2022

Here you go…

The Bank of Canada raised its benchmark interest rate to 0.5 per cent on Wednesday, a move that's expected to be the first of a series of small rate hikes this year in an attempt to tame inflation that has risen to its highest point in decades.

02/19/2022

Govt. need to come up with better steps to handle this market.....

The parliamentary budget officer is warning that home ownership has become even less affordable through the pandemic for the average buyer, who may find it even tougher to get into the market unless prices drop.

03/13/2020

The Bank of Canada has made an emergency rate cut, cutting the central bank's benchmark interest rate by 50 basis points to 0.75 percent.

The Bank of Canada has made an unexpected rate cut, cutting the central bank's benchmark interest rate by 50 basis points to 0.75 per cent.

09/06/2018

The central bank kept its benchmark at 1.5 per cent, but many experts predict another increase could arrive as early as next month.

The Bank of Canada opts to keep its benchmark interest rate steady at 1.5 per cent as trade uncertainty stemming from NAFTA negotiations continues to weigh on the outlook.

05/31/2018

The central bank held its target for the overnight rate!!!

The Bank of Canada kept its key interest rate target on hold Wednesday, but hinted that rate hikes could be coming as it noted the Canadian economy was a little stronger than expected in the first quarter.

The central bank held its target for the overnight rate _ a key financial benchmark that influences the prime lending rates at the country's big banks _ steady at 1.25 per cent.

``Exports of goods were more robust than forecast and data on imports of machinery and equipment suggest continued recovery in investment,'' the Bank of Canada said in a statement.

``Housing resale activity has remained soft into the second quarter, as the housing market continues to adjust to new mortgage guidelines and higher borrowing rates. Going forward, solid labour income growth supports the expectation that housing activity will pick up and consumption will continue to contribute importantly to growth in 2018.''

The central bank also said global economic activity remains broadly on track, but added that ongoing uncertainty about trade policies is dampening global business investment and stresses are developing in some emerging market economies.

It noted that recent developments have reinforced its view that higher rates will be warranted to keep inflation near its target, but added that it will take a gradual approach and be guided by the economic data.

``In particular, the bank will continue to assess the economy's sensitivity to interest rate movements and the evolution of economic capacity,'' it said.

Economists had predicted the Bank of Canada would keep its key rate on hold Wednesday, but many have suggested the rate may be headed higher later this year.

The central bank's decision to keep its trend-setting rate on hold came as inflation sits above the two per cent midpoint of its target range of one to three per cent and core inflation has crept past the two per cent mark for the first time since 2012.

It noted that inflation will likely be a bit higher in the near term than was forecast in its April monetary policy report due to recent increases in gasoline prices, but that it will look through the transitory impact of the fluctuations at the pump.

The central bank has raised its key rate three times since last summer, increases that have prompted the big Canadian banks to raise their prime rates which are used to set the rates charged for variable-rate mortgages and other variable-rate loans.

Its next scheduled interest rate decision is set for July 11 when it will also update its outlook for the economy and inflation in its monetary policy report.



The Canadian Press

05/27/2018

Planing to buy your dream home call experience mortgage consultant !!! Jeet Nagi 416-884-1770

05/13/2018

Happy Mother's Day....

04/08/2018

Need Mortgage !!! Call Jeet Nagi mortgage hotshot 416-884-1770. Or visit www.gtalend.com

04/08/2018

Don't let your financial crisis come in your way to get your Dream house!

04/01/2018

Happy Easter