Susan Smith

CA: Bank of Canada Shifts Into First Gear

The Bank of Canada hiked its target for the overnight rate by 25bps, from 0.25% to 0.50%

The forward-looking statement is quite tentative, indicating that although the default assumption is further hikes, a notable element of uncertainty remains.

The key phrases in the report are "increasingly uneven", "variability", and "c ...

Last Updated: Tuesday, June 1, 2010 | 9:11 AM ET T CBC News

The Bank of Canada did the expected and raised its benchmark interest rate to 0.5 per cent on Tuesday, the first rate hike in nearly three years.

The bank moved its overnight lending rate 25 basis points higher, up from 0.25 per cent.

In doing so, Canada became the first G8 nation to raise rates after an aggressive round of cut ...

A variable-rate mortgage is a mortgage where interest rates fluctuate with the prime lending rate. (Prime is currently at 2.25%) Most variable rate mortgages can be locked into a fixed rate mortgage without penalty providing you lock in for at least the remainder of the term. Historically, variable-rate mortgages have tended to cost less than fixed-rate mortgages when interest rates are fair ...

Finance Minister Jim Flaherty Tuesday announced tighter lending standards for mortgages, saying that while the housing market\l " is healthy and there's no solid evidence of a bubble, the moves are needed to "help prevent negative trends from developing."

Under the new rules, all borrowers will need to meet standards for five-year fixed-rate mortgages regardless of whether they're seeking a ...