Posts from the ‘Monday Morning Mortgage Rate Updates’ Category

What the U.S Federal Reserve’s Continued Caution Means For Canadian Mortgage Rates - Monday Morning Interest Rate Update (May 2, 2016)

Last week was a slow one for economic news but we did receive our latest inflation data, for March. Statistics Canada confirmed that overall inflation, as measured by our Consumer Price Index (CPI), rose by 1.3% last month, which was a little less than our 1.4% rate in February but slightly above the 1.2% rate that the consensus had been expecting. The most noteworthy detail in our latest CPI data showed that gasoline prices fell by 13.6% versus where they were last year. We saw price rises in six of the eight major categories that Stats Can tracks, and core inflation, which strips out more volatile CPI inputs like food and energy, rose by 2.1% in March (up from 1.9% in February). When the Bank of Canada (BoC) […]

Why the Bank of Canada Is Stuck in Neutral - Monday Morning Interest Rate Update (April 18, 2016)

Did the Bond Market Over-React To the Latest Canadian Employment Data? Monday Morning Interest Rate Update (April 11, 2016)

Why Markets Aren’t Likely To Overreact To the Latest U.S. Employment Data - Monday Morning Interest Rate Update (April 4, 2016)

Three U.S. Trends That Could Push Canadian Mortgage Rates Higher - Tuesday Morning Interest Rate Update (March 29, 2016)

What the U.S. Fed’s Surprising Shift in Tone Means for Canadian Mortgage Rates - Monday Morning Interest Rate Update (March 21, 2016)

Today’s post will be a short and sweet March-break edition. Five-year GoC bond yields rose by twelve basis points last week, closing at 0.81% on Friday. Five-year fixed-rate mortgages are available in the 2.39% to 2.59% range, depending on the terms and conditions that are important to you, and five-year fixed-rate pre-approvals are offered at rates as low as 2.79%. Five-year variable-rate mortgages are available in the prime minus 0.30% to prime minus 0.40% range, which translates into rates of 2.40% to 2.30% using today’s prime rate of 2.70%. The Bottom Line: The Bank of Canada stood pat last week while the European Central Bank adopted several new measures to loosen its monetary policy further. It’s the Fed’s turn this week, and we’ll most likely be reviewing what it had […]