Bank of Canada is able to end interest rate hikes ahead of the U.S.

Economists believe the Bank of Canada has a possibility to end its interest-rate increasing cycle in the nearest future even if the Federal Reserve continues to raise its borrowing costs in 2023. According to the recent poll by Bloomberg, the Governor Tiff Macklem and his team have a possibility to keep their...
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“Correction” at Canada’s real estate market – what stage are we on?

Canada’s real estate market has been facing some serious turbulence: record low interest rates during the pandemic pushed prices and sales to extremely high levels, then the central bank’s rate increases since March caused equally shocking consequences. No wonder that in July, RBC economists...
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How will the new GDP report affect the central bank’s next rate decision?

Sal Guatieri, director and senior economist at BMO Capital Markets, believes that recent reports pointing to strong economic growth in the third quarter will probably lead to further interest rate increases by the Bank of Canada. In his opinion, the Statistics Canada’s new data...
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Certain mortgages saw interest grow by 250% in just a year

The latest report by Ratehub says a homebuyer in 2022 would pay about 250% in interest during the first year of the mortgage compared to the amount a buyer would pay last year. In October 2021, the amount paid in interest during the first...
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Banks search for ways to help vulnerable variable-rate borrowers avoid default on their loans

Canadian banks are trying to help homeowners who are facing issues with the sharp interest rate increase. The banks offer extending mortgage amortizations and sometimes adding unpaid amounts to the borrower’s loan principal. While such ways can help you avoid mortgage default in the...
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