Variable-rate mortgage holders will see their interest costs rise once again starting on Thursday as prime rate rises to 5.45%.
RBC says it expects the country's housing correction to "deepen" in the coming months with resale activity and prices falling more than expected.
Bond yields dove over 30 basis points on Friday as economic worries start to replace inflation concerns.
Variable-rate mortgages in Canada are now averaging about 4.20%, a full percentage point higher than they were a week ago.
Markets and economists alike overwhelmingly expect the Bank of Canada to lift its policy rate by 75 basis points when it meets this Wednesday.
Inflation in Canada grew at a pace not seen since 1983, further increasing the likelihood of an “oversized” rate hike...
As of June 2022, we are currently seeing unnatural discrepancies in the size of mortgage loans borrowers will qualify for,...
Bond yields surged to a fresh 14-year high this week, driving expectations that fixed rates are likely to continue rising.
While the Bank of Canada is currently still forecasting a "soft landing" for the Canadian economy, it's going to take higher interest rates to help that happen.