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 […]

Steady February Job Market Ahead of Virus Scare Job growth in Canada remained robust last month, with net employment gains of 30,300, all of which were in private-sector full-time jobs. The unemployment rate rose a tick to 5.6%, but that is still down from a year ago and around multi-decade lows. The positive news was wage […]

Well, this is getting interesting ……   Prime Minister Justin Trudeau said Canada would introduce a “significant” fiscal stimulus package, as part of a coordinated effort with other Group of Seven countries to counter the virus-driven global economic slowdown and calm markets. In an exceptional press conference held at 2 pm today, Finance Minister Morneau […]

Thank you Dr Cooper for your insight 🙂     Global Markets in Turmoil, Oil Prices Plunge Along With Yields Markets shuddered in the face of a price war for oil and the economic fallout from the growing outbreak of coronavirus. Frightened investors poured into haven assets sending yields to unprecedented lows. Oil prices tumbled […]

 Let’s see what the Bank of Canada does tomorrow 🙂  ……….  In a remarkable show of force, the US Federal Reserve jumped the gun on its regularly scheduled meeting on March 18 and cut the target overnight fed funds rate by a full 50 basis points (bps) to 1%-to-1.25%. This now stands well below the […]