mortgage interest cost Archives - Mortgage Rates & Mortgage Broker News in Canada

Inflation crept back up in December: “We’re not out of the woods yet”

January 16, 2024 No Comments

For the third time since 2022, Canada’s headline inflation rate reversed course and trended back upward in December. Headline inflation rose 3.4% last month, Statistics

Mortgage interest payments up nearly 90% since start of BoC rate hikes: StatCan

December 13, 2023 No Comments

Mortgage interest payments have now soared nearly 90% since the Bank of Canada started hiking interest rates in early 2022.

Inflation rises more than expected in August, keeping BoC rate hikes in play

September 19, 2023 No Comments

Inflation heated up more than expected in August, raising the odds of yet another Bank of Canada rate hike in October.

Mortgage interest costs now up over 80% since the start of the BoC’s rate hikes

September 13, 2023 No Comments

Canadian mortgage borrowers continued to see their interest costs climb in the second quarter, which have now soared over 80% since the Bank of Canada started raising interest rates.

It’s possible interest rates aren’t high enough: BoC’s Macklem

September 7, 2023 1 Comment

While the Bank of Canada is “encouraged” by the way higher rates are working to slow inflation, Governor Tiff Macklem said it’s possible interest rates aren’t yet high enough.

“Extremely resilient” variable-rate borrowers face latest test as prime rate rises to 7.20%

July 17, 2023 No Comments

Variable-rate mortgage borrowers, who have already seen their interest costs rise by more than 70% over the past year, were hit with yet another hike last week as prime rate reached a 22-year high of 7.20%.

Inflation hits 2-year low due to base effects, but unlikely to prevent another Bank of Canada rate hike

June 27, 2023 No Comments

As expected, Canada’s headline inflation rate fell to a two-year low in May, although the decrease was driving by sharply lower gasoline prices compared to last year.

Mortgage interest costs surge by nearly 70% in the past year

June 18, 2023 No Comments

Mortgage interest costs have undergone a “dramatic” surge over the past year, having risen by nearly 70%, according to Statistics Canada.

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