Jeff Pedneault - Mortgage Agent

04/09/2020

https://renx.ca/sobering-economic-forecast-pandemic-covid-19-cibc-tal/?fbclid=IwAR2272o5bp8xKkJP2nX7QquS5XviGjuAA4FMl0eLN8CzzBEwK4fxZeP_dLg

“The next few weeks, months and quarters will test the economic IQ of every government and every central banker in the universe, because they are the first to admit that they have no clue what’s happening.” That doesn’t sound optimistic,

03/27/2020

https://www.bankofcanada.ca/2020/03/press-release-2020-03-27/

The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support t...

03/22/2019

Up and coming incentives broken down easy read

Hoping for tweaks to the mortgage stress test, the government’s budget instead left many in the industry underwhelmed and with more questions than answers.

03/06/2019

https://www.magnetmail.net/actions/email_web_version.cfm?ep=UEG3yl5teD8c-9-bIiNn3A3D-58-KTsgOsl1B4Lh3BKEkn8UZTUdFIwIl7H7GDYGhZU0JWx1lJpYucKXYHEEoqMP8wSRGDntTkORkuas_h1d8M_iM3XmiTSDd8Ra-Kvr

The Bank of Canada announced today that it is keeping its key rate unchanged. The Bank noted that while a slowing economy was anticipated in late 2018 and early 2019, the slowdown was in fact “sharper and more broadly based” than expected. While there was growth in employment and labour inco...

02/12/2019

Builders say the stress test is making life harder for would-be buyers

02/05/2019

Unaffordability has been associated with Toronto’s real estate market for the past few years, the culmination of which is the fewest new home sales in nearly two decades

10/03/2018

If you are rate shopping, you’ll notice that the lowest available rate will be for a variable mortgage, which is why I’m often asked “what does variable mean and how is it different from a fixed-rate mortgage?”

01/17/2018

The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent.

03/01/2017

If you’ve been shopping for a mortgage lately, you’ll have figured out that rates can be all over the map. That’s because you’re not comparing apples to apples anymore. Thanks to new mortgage rules, the mortgage pricing matrix is much more complicated, and quick online mortgage quotes are less relia...

11/03/2016

On October 3rd, Finance Minister Bill Morneau announced that new mortgage rules will include more stringent “stress testing” for borrowers. The new rules are designed to lower debt levels, enforce some belt-tightening, and protect the housing market over the long term. Here’s how these new rules wil...

03/09/2016

No Bank of Canada Rate Change

The Bank of Canada announced today that it is holding the benchmark rate steady for the fifth straight time, noting that “the low level of oil prices will continue to dampen growth in Canada and other energy-producing countries,” although “Canada’s GDP growth in the fourth quarter was not as weak as expected.”

Global growth is expected to strengthen this year and next, and U.S. expansion remains broadly on track. Inflation in Canada is also evolving as anticipated. Taking into account all of these considerations, the Bank “judges that the overall balance of risks remains within the zone for which the current stance of monetary policy is appropriate.”

Great news if you’ve got a variable-rate mortgage, need a new mortgage, are renewing, or want to consolidate debt at the lowest cost funds. The next rate-setting day is April 13, 2016.

Get in touch today for help determining whether a fixed or variable-rate mortgage will work best for your situation.