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.
Having been behind the inflation curve for many months, the Bank of Canada today tried to get ahead of it by delivering a surprise 100-bps rate hike.
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.
Fixed mortgage rates are back on the rise after Canadian bond yields surged to a 13-year high on Wednesday.
