Many borrowers are focused purely on the rate they receive.  Not surprising, getting the best deal is important in our culture and nobody wants to overpay for anything.  In banking though, there is no free lunch which means there is a cost to everything.  So when you get that rate that is lower than what […]

This week, the Canada Mortgage and Housing Corporation announced changes to its underwriting criteria (https://bit.ly/2A8qPxY).  Evan Siddal’s, CMHC’s President and CEO, remarks suggest  a more pessimistic view of the housing market and the economy than perhaps the Bank of Canada or other economists are signalling.  As a result, the CMHC has revised its underwriting criteria […]

“The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. Incoming data confirm the severe impact of the COVID-19 pandemic on the global economy. This impact appears to have peaked, although […]

Lockdowns Hit Canadian Q1 GDP