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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 ...

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 ...

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 ...

Bank Of Canada Benchmark Rate remains

December 8th, 2017
The Bank of Canada benchmark rate is used for qualifying High Ratio mortgages. Today, this rate is 4.99%.

The Bank of Canada has decided to keep its benchmark lending rate steady at one per cent, pausing after two small hikes earlier this year.
Canada's central bank said Wednesday it has decided to keep its target for the overnight rate right where it is, while rate hikes in July and in Septe ...

Bank of Canada silence bolsters expectation of October rate hike

August 1st, 2017
OTTAWA -- With no public speeches scheduled before its September interest rate decision, the Bank of Canada has signalled it is comfortable with market expectations that a rate hike won't happen until October at the earliest, analysts said on Monday.

The central bank's July rate hike, the first in seven years, was preceded by a flurry of speeches and interviews by top officials that dramatica ...

BC Gov't Announces New Program

December 15th, 2016
Today, the BC Government announced a new program designed to assist and support first-time homebuyers in the province.

The BC Home Owner Mortgage and Equity (HOME Partnership Program) is helping first-time homebuyers by contributing to the amount they have already saved for a down payment with a loan that is interest-free and payment-free for the first five years.

Today's announcement is extr ...

New Mortgage Rules Annouced for High Ratio Insured Buyers

October 3rd, 2016
Please see the link below for details -

http://www.fin.gc.ca/n16/data/16-117_2-eng.asp

Minimum Down Payment Policy Changes for CMHC and Genworth Applications

December 30th, 2015

I wanted to provide you with some additional information about the recently announced down payment changes. As a reminder, on December 11th, 2015, the Government of Canada announced the minimum down payment requirement will be increased from 5% to 10% on the portion of a purchase price for a property that is above $500K but less than $1,000,000. Please refer to the following chart to determin ...

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