Boc - Blog - The Westlake Team

Housing Market Correction Gains Steam in May

By Scott WestlakeJune 15, 20220 comments

#interestrates #boc #canadianrates #rateincrease

Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, ...Read more...

Another Jumbo Rate Hike, Signalling More To Come

By Scott WestlakeJune 2, 20220 comments

#BoC #bankofcanada #variablerate #increasedrate #ratechange

The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back ...Read more...

Canadian Housing Market Feels The Pinch of Higher Rates

By Scott WestlakeMay 17, 20220 comments

#rateupdate #BoC #bankofCanada #housingsupply #supplyvsdemand

Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, ...Read more...

Bank of Canada Hikes Rates by 50 BPs, Signalling More To Come

By Scott WestlakeApril 13, 20220 comments

#mortgagerates #mortgagerate #boc #variablerate

The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will ...Read more...

Bank of Canada Starts Hiking Rates, Signalling More To Come

By Scott WestlakeMarch 2, 20220 comments

#boc #ratechange #variable #rate

The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be ...Read more...

No Wonder The Bank of Canada Didn't Hike Interest Rates Last Month

By Scott WestlakeFebruary 7, 20220 comments

#economicupdate #sherrycooper #SW #TWT #DLC #rateupdate #boc

Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions ...Read more...

Bank Will Hike Rates At Next Meeting

By Scott WestlakeJanuary 26, 20220 comments

#economicupdate #sherrycooper #SW #TWT #DLC #rateupdate #boc

While markets were 70% certain the Bank would hike their overnight target rate today, we remained of the view that the Governing Council would hold off until March or April because ...Read more...

Mortgage Broker News - Housing Affordability Erodes Further With Record-Low Supply

By Scott WestlakeJanuary 17, 20220 comments

#economicupdate #boc #drsherrycooper #SW #TWT #DLC

To connect with Scott Westlake, scott@thewestlaketeam.com Housing affordability remains a huge political issue and with the Department of Finance working on the upcoming ...Read more...

Bank of Canada RespondsTo Mounting Inflation: Ends QE and Hastens Timing of Rate Hike

By Scott WestlakeOctober 27, 20210 comments

#economicupdate #boc #drsherrycooper #SW #TWT #DLC

The Bank of Canada surprised markets today with a more hawkish stance on inflation and the economy. The Bank released its widely anticipated October Monetary Policy Report (MPR) ...Read more...

Bank of Canada Holds Rates and QE Steady--Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary

By Scott WestlakeJune 9, 20210 comments

#BoC #mortgaegrates #SW #TWT #DLC

For more information on how this information impacts your current or future mortgage needs, connect with our team through scott@thewestlaketeam.com or416-436-1135. ...Read more...

Bank of Canada Still Expects No Rate Increases Until 2023

By Scott WestlakeJanuary 22, 20210 comments

#boc #rateupdate #twt #dlc

The Bank of Canada, this morning, released its January Monetary Policy Report (MPR), showing they expect to keep overnight interest rates at its “effective lower bound” of 0.25% until 2023 (see chart below). To reinforce this commitment and keep interest rates low across ...Read more...

Bank of Canada Confirms Commitment To Low Interest Rates

By Scott WestlakeDecember 9, 20200 comments

#bankofcanada #boc #canadamortgagebonds #twt #scottwestlake #drsherrycooper

For more information please connect with scott@thewestlaketeam.com Despite the good news on the vaccine front since the Governing Council's last meeting in late ...Read more...

Bank of Canada 2021 Schedule

By Scott WestlakeNovember 30, 20200 comments

#BoC #bankofcanada #oakvillemortgagebroker #gtamortgage

Please see the schedule for the Bank of Canada announcements on Interest Rates & Business Outlook Survey for 2021Read more...

Bank of Canada Will Stop Buying Canada Mortgage Bonds

By Scott WestlakeOctober 27, 20200 comments