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Blog by Linda M Linfoot

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Stress Test Rate Drops

July 19th, 2019

Stress Test Rate Drops from 5.34% to 5.19% - this will affect mortgage qualifying. Call me to discuss! 


https://www.canadianmortgagetrends.com/2019/07/latest-in-mortgage-news-stress-test-rate-drops-after-a-year-of-no-change/

Bank of Canada Announcement July

July 10th, 2019
Bank of Canada keeps interest rates where they are

With global trade tensions clouding its crystal ball, the Bank of Canada decided to stand pat in its recent interest rate announcement--maintaining its target for the overnight rate at 1 3/4 percent.

While the Bank already anticipated that trade tensions would have a negative impact on the global economy, it’s been forced to further adjust it ...

Bank of Canada Annoucement May 2019

May 30th, 2019
The Bank of Canada will be maintaining its target for the overnight rate at 1 3/4 percent as it waits to see how the slowdown of late 2018/early 2019 plays out. So far, it seems it was a temporary blip.

Recent Canadian economic data are in line with the projections in the Bank's April Monetary Policy Report (MPR)--and it looks like economic activity is picking up in the second quarter. The oi ...

Residential Market Update May 2019

May 24th, 2019
The Bank of Canada is maintaining its optimistic outlook for the country’s economy – but…

The central bank’s latest Financial System Review says two persistent problems remain and two others are on the rise. High household debt and imbalances in the housing market continue to represent the greatest threats to the financial system, while the increasing chance of a recession and riskier corpora ...

Residential Market Update

April 18th, 2019
Anyone who has been watching knows that bond yields are falling and taking fixed rate mortgages with them. The recent economic slowdown in both Canada and the U.S. has pushed down yields on five year government bonds on both sides of the border. Those yields are used as the basis for setting interest rates on fixed mortgages.
An economic indicator known as the yield curve is has been getting ...

Bank of Canada Rate Announcement Oct 24

October 24th, 2018
Bank of Canada raises rates – Prime Rate is now 3.95%

As expected, the Bank of Canada raised its target for the overnight rate to 1.75% today--which inevitably means variable mortgage rates, once again, are on their way up.

Citing a solid global economic outlook, reduced trade policy uncertainty (thanks to the new USMCA deal), as well as a Canadian economy operating close to potential, the Ba ...

Bank of Canada Announcement Sept 2018

September 6th, 2018
The Bank of Canada is keeping interest rates the same—for now.

While CPI inflation is on the high side (sitting at 3%, a point above the Bank’s target of 2%), the Bank of Canada decided to maintain the target for its overnight rate at 1.5% in its September announcement. The reason? It believes the high CPI rate is temporary—brought on by a jump in the airfare component of the consumer price i ...

The Housing Market Shift

August 27th, 2018
The housing market shift that is supposed to be led by empty-nest Baby Boomers has been slow to arrive. But a new survey from realtor, Royal Lepage, suggests it is coming. Although it might not be as dramatic as forecast.
The Boomer Trends Survey suggests as many as 1.4 million Boomers (those born between 1946 and 1964) will be in the market, buying and selling, over the next five years. That ...

Bank of Canada Rate Announcement

April 18th, 2018
Overnight rate stands at 1.25%

It seems variable mortgage rates will be standing pat, for now, as the Bank of Canada announced today it will be keeping the target for the overnight rate as-is, at 1.25%.

The reason for the non-move, according to the Bank, is that inflation is still within the safe zone, sitting at 2%. Additionally, while the outlook for the global economy and, more specificall ...

Be Stress-Test Ready

April 12th, 2018
With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical information on how they can ensure they are “stress-test ready”.

The following is a guide and best practices tool kit for those about to embark on securing their new or next mortgage:

Make a financial p ...
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