Bank of Canada maintains target for the overnight rate, scales back some market operations as financial conditions improve FOR IMMEDIATE RELEASE Media Relations 613-782-8782 Ottawa, Ontario June 3, 2020 Available as: PDF The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is […]

Thank you for the insight Dr Cooper.  I personally appreciate her positive view on CMHC’s most recent press release as its does appear the market is bouncing back and that the initial “drops” are not as significant as originally expected …. still drops just the same, but we are a strong and resilient bunch!   […]

Great to see how one of our preferred lenders is managing the new World that COVID19 has presented, keep up the great work First National!   View this email in your browser First National and you: a progress report on what we accomplished together in Q1 As you know, it’s been almost two months since […]

Sales are still happening and there is activity … just less of it.  Here’s to hoping the market rebounds as quickly as it dropped.  See below from Dr Cooper.  Cheers!       Record Declines in Canadian Home Sales and Listings in April The pandemic shutdown has put every sector of the economy into a […]

Quick post to provide a link to our DLC Site that will provide updates and relevant information around COVID-19 in general and also for Homeowners.   Feel free to bookmark and check back regularly to get additional updated information as more details arise https://dominionlending.ca/covid-19/#         Bob Rees Mortgage Broker Powered by Maximal […]

Bank of Canada maintains overnight rate target and unveils new market operations FOR IMMEDIATE RELEASE Media Relations 613-782-8782 Ottawa, Ontario April 15, 2020 The Bank of Canada today maintained its target for the overnight rate at ¼ percent, which the Bank considers its effective lower bound. The Bank Rate is correspondingly ½ percent and the […]

Thank you to our Chief Economist, Sherry Cooper, for the below insight and breakdown of the Bank of Canada’s rate decision today.   Bank of Canada Stands Ready To Do Whatever It Takes On the heels of a devastating decline in the Canadian economy, the Bank of Canada is taking unprecedented actions. With record job […]

Dr Cooper, thank you for your insight during these unprecedented times 🙂   Why Are Mortgage Rates Rising? Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates […]

Thank you Dr Cooper, another prime rate drop ….. interesting time!   The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system […]

Contrary to public opinion, we have been told (and have already seen) that fixed rates will now increase.  Please see below article that explains. The plumbing behind world’s financial markets is creaking. Loudly Tommy Wilkes 8 MIN READ LONDON (Reuters) – The coronavirus panic is jolting stock markets, with steep drops in major indexes grabbing […]