The Bank of Canada's Governing Council remains split over when they think conditions will be right to begin lowering the country's key interest rates.
JoinedMay 23, 2014
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Steve Huebl is a graduate of Ryerson University's School of Journalism and has been with Canadian Mortgage Trends and reporting on the mortgage industry since 2009. His past work experience includes The Toronto Star, The Calgary Herald, the Sarnia Observer and Canadian Economic Press. Born and raised in Toronto, he now calls Montreal home.
A recent survey of financial experts reveals a shift in recession expectations, showing a decrease in the likelihood of an imminent economic downturn. However, there is growing uncertainty regarding the timing and degree of anticipated Bank of Canada interest rate cuts.
As variable-rate mortgage holders eagerly anticipate the Bank of Canada's first rate cut, fixed rates are heading in the other direction: up.
Housing was a key priority in today's federal budget, though it came as no surprise given the array of housing-related policy announcements unveiled in recent weeks.
Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.
The federal government today confirmed plans to consult with the mortgage industry on developing income verification tools through the Canada Revenue Agency.
While the Bank of Canada left its benchmark rate unchanged as expected today, markets instead turned their attention to today's hot U.S. inflation report.
The Bank of Canada is widely expected to leave interest rates unchanged this week for the sixth straight meeting.
Canada's unemployment rate surged to 6.1% in March, driven largely to population gains outpacing job growth.
Housing affordability in most major markets continued to worsen in the fourth quarter despite a slight easing of home prices.