April's Strong Job Gains Likely Postpone Rate Cuts Until JulyBy Scott WestlakeMay 13, 20240 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #economicupdate Today's StatsCanada Labour Force Survey for April blindsided economists by coming in much more robust than expected. Employment in Canada rose a whopping 90,400 in April, the most ...Read more...
The Bank of Canada Holds Rates Steady Until Core Inflation Falls FurtherBy Scott WestlakeMarch 6, 20240 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales Today, the Bank of Canada held the overnight rate at 5% ...Read more...
The Bank of Canada Holds Rates Steady And Expects Rate Cuts Later This YearBy Scott WestlakeJanuary 24, 20240 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales Today, The Bank of Canada held the overnight rate at 5% for the fourth consecutive meeting but provided an outlook suggesting that monetary easing will begin by mid-year. The Bank ...Read more...
The Bank of Canada Held Rates Steady and Took A More Neutral ToneBy Scott WestlakeDecember 6, 20230 comments#boc #interestrate #variablerate #bankofcanada #mortgagerate It was widely expected that the Bank of Canada would maintain ...Read more...
Hawkish Hold By The Bank of CanadaBy Scott WestlakeOctober 25, 20230 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales ...Read more...
Home Sales Dipped Once Again Last Month In The Wake of Two Consecutive BoC Rate HikesBy Scott WestlakeSeptember 15, 20230 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, ...Read more...
Bank of Canada June Rate Hike Spooks the Housing MarketBy Scott WestlakeJuly 17, 20230 comments#Bankofcanada #interestrate #boc #variablemortgage #mortgagerates The Canadian Real Estate Association says the BoC's surprise ...Read more...
Further Decline in Inflation in February Will Keep the Bank of Canada On Hold in AprilBy Scott WestlakeMarch 21, 20230 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates All eyes will be on the Federal Reserve tomorrow when ...Read more...
The Bank of Canada Hiked Rates The Full 50 bpsBy Scott WestlakeDecember 7, 20220 comments#bankofcanada #interestrate #boc #variablemortgage #mortgagerates The Governing Council of the Bank of Canada raised its ...Read more...
Little Comfort for the Bank of Canada in Today's Jobs ReportBy Scott WestlakeDecember 5, 20220 comments#BoC #interestrate #variablerate #bankofcanada #mortgagerate #jobs Today's Labour Force Survey for November will do little ...Read more...
Rate Is Not EverythingBy Scott WestlakeNovember 21, 20220 comments#interestrate #whenhigherrateisbetter When it comes to getting a mortgage, there is a common misperception that a low rate is the most important factor. However, while your rate does matter for your mortgage, it is not the only component to consider. If you’re looking to get a mortgage, these are some other important ...Read more...
The Bank of Canada Slowed the Pace of Monetary TighteningBy Scott WestlakeOctober 26, 20220 comments#BoC #interestrate #variablerate #bankofcanada #mortgagerate The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The ...Read more...
Understanding Your Mortgage Rate.By Scott WestlakeApril 5, 20220 comments#interestrate #mortgagerates When it comes to mortgages, one of the most important influencers is interest rate but do you know how this rate is determined? It might surprise you to find out that there are 10 major factors that affect the interest you will pay on your home loan! Knowing these factors will not ...Read more...
Longer-Term Yields are Rising Despite Central Bank InactionBy Scott WestlakeFebruary 24, 20210 comments#bond #yields #interestrate #mortgagenews #twt #dlc #scottwestlake For more information on how this information affects your current or future mortgage, please email scott@thewestlaketeam.com While central banks hold overnight rates ...Read more...