Yesterday we saw the Bank of Canada hike interest rates by 0.25%, while announcing that future increases to its trendsetting overnight rate will depend on what they call “unusual uncertainty” surrounding the global outlook. The “unusual uncertainty” that the Bank of Canada is referring to is in fact the U.S. economy. The recovery has been

Today we saw the Bank of Canada increase their trend setting rate to 1%, marking this as the 3rd increase since the Bank of Canada has begun raising rates. With this interest rates we will be seeing the prime lending rate increased, and it should be announced as early as today. With the prime lending

The Bank of Canada has raised its trend setting interest rate for the third consecutive time, however they have signaled that this may be the last increase until the central bank sees signs of a durable recovery. The trend setting interest rate is now at 1%, which makes this recent increase inline with the past

BMO has announced that it will be decreasing its popular five year low rate mortgage from 3.79% to 3.59%. This decrease will be able to provide homebuyers the incentive they need to kick-start their fall house hunting season. To be honest with everyone, the housing market has definitely decreased over the past few months. Sales

For any Canadian on the search for a house right now, the chances of saving money are slowly slipping away if they do not move quickly. We have recently received notice that the Bank of Canada has no longer any reason to uphold its commitment to keep the overnight rate at the all time low

RBC Royal Bank announced on Tuesday April 13th 2010 that it will be changing its residential mortgage rates effectively April 14th, 2010. This recent increase in mortgage rates is the second time RBC has done so in just less than a month from the first increase. The changes to RBC’s residential mortgage rate are as

With new mortgage rules coming into effect and mortgage rates due for an increase as the Bank of Canada’s rate increases; Canadians will soon find themselves in a bind when purchasing a home. To help ease the stress of purchasing a home, I have a few tips you may want to consider following. 1. Lock