Bank of Canada Rate Cut: A Positive Step for CanadiansBy Scott WestlakeJune 6, 20240 comments#rate #boc #bankofcanada #interestrates #variablerate #economy Today, the Bank of Canada announced a reduction in its overnight policy interest rate by 0.25% to 4.75%. While this may seem like a small change, it is a positive step for consumer sentiment, especially in an expensive country and province where many of our clients reside. Although ...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...
Rate Hikes Are Definitely Off The TableBy Scott WestlakeSeptember 1, 20230 comments#mortgagerates #interestrates #bondyield #economicupdate #variablerate The Canadian economy ...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...
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...
A Super-Sized Rate Hike, Signalling More To ComeBy Scott WestlakeJuly 15, 20220 comments#economicupdate #sherrycooper #rateupdate #boc #variablerate #SW #TWT #DLC The Governing Council of the Bank of Canada raised its target for the overnight policy rate by a full percentage point to 2-1/2%. The Bank is also continuing its policy of quantitative ...Read more...
Another Jumbo Rate Hike, Signalling More To ComeBy 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...
Recently Funded - $1.553M Mortgage - Residential Purchase - Pre Approved for NO COF - P - 1.25%By Scott WestlakeMy PortfolioApril 23, 20220 comments#portfolio #recentlyfunded #SW #TWT #DLC #purchase #variablerate TWT Recently Funded a $1.55M Mortgage for a client of ours purchasing a new home. Client referred by realtor during a very hot market with limited supply and needed feedback on viability of no financing condition. TWT fully underwrites pre approvals ...Read more...
Bank of Canada Hikes Rates by 50 BPs, Signalling More To ComeBy 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...