The majority of Canadians aspiring to buy a home say they will push their plans to next year or later to wait for interest rates to drop, a new survey shows.
Canada’s quarterly gross domestic product edged up 0.2% in Febuary, according to Statistics Canada data published April 30, suggesting the Bank of Canada may have a reason to cut rates in the summer.
Mortgage shopping isn’t getting much easier these days. The highly anticipated interest rate cuts so many have been banking on this year keep getting pushed back, while borrowers lost an aggressive rate advertiser after HSBC Canada was taken over by RBC.
As variable-rate mortgage holders eagerly anticipate the Bank of Canada's first rate cut, fixed rates are heading in the other direction: up.
It seems that the Canadian bond market has a spring in its step these days. After hitting a low around 3.26% in January, the Government of Canada 5-year bond yield—which typically leads fixed mortgage rates—finished Tuesday's session at 3.63%.
Economists expect a more dovish tone from the Bank of Canada when it unveils its interest rate decision on Wednesday.
As Cupid readies his arrows for Valentine's Day, a new survey has uncovered that high interest rates are taking their toll on Canadians' romantic life
After a short-lived upswing in bond yields last month that nudged some fixed mortgage rates higher, lenders are once again bringing them back down.
Canada's economy outperformed growth expectations to end the year, which means the Bank of Canada could feel less pressure to start cutting rates in the near term, economists say.
As was widely anticipated by markets, the Bank of Canada today held its overnight target rate at 5.00%, where it's been since July.