On July 14, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until the inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank Rate remains at 0.5% and the deposit rate at 0.25%.
Quantitative easing (QE) has been adjusted to the target pace of $2 billion per week.
On June 9, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until the inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank rate stays at 0.5% and the deposit rate at 0.25%.
Market Update - May 2021
What is in store for the residential market in 2021? Many have been investing in the housing market leading to an increase in sales within the community. Take a look at the following infographics to learn more about the recent ongoings in the housing market.
Bank of Canada Announcement
The Bank of Canada has decided to hold on to lower overnight rates of 0.25% with a bank rate of 0.50% and a deposit rate of 0.25%. The Bank maintains exceptional forward guidance on the path of the overnight rate, reinforced and supplemented by the Bank's quantitative easing (QE) program.
On March 10, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank Rate stays at 0.5% and the deposit rate at 0.25%. (more…)
Business owners have had to weather a series of challenges since early 2020. They’ve had to contend with restrictions and lockdowns, supply chain disruptions, changes in consumer spending habits and more. Many businesses have had to close permanently because it has been financially impossible for them to remain open.
According to Mortgage Professionals Canada's report 'Rapidly Evolving Expectations in the Housing Market', there has been no change in Canadian's desire to be homeowners despite the pandemic. Instead, there has been an increase in the number of Canadians who plan to buy their first home within the year and a drop in the percentage of those who expect to never buy a home.
As business owners focus on short- and medium-term cash flow, the long-term can slip into the background sometimes. Owning appreciate assets, such as real estate, can make considerable difference to a business' long-term strategy to improve cashflow.
The Bank of Canada expects the economy to rebound in the second quarter of 2021. This first quarter, because of the shutdown, will be a difficult time for businesses.
On January 20, the Bank of Canada published its Monetary Policy Report and announced that it will leave its target overnight benchmark rate unchanged at 0.25% and the Bank Rate will stay at 0.5%. This is good news for Ontarians planning to buy property or refinance as borrowing costs will continue to stay low.
Homeowners who want to be more environmentally friendly, save money, or both can make use of the CMHC Green Home Program. If you’re planning to buy, build or renovate this year and want an energy efficient home, you can get a partial refund on the cost of your mortgage loan.
