Interest Rates

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Lowest Loonie In 5 Years

TORONTO - The Canadian dollar continued to fall Thursday as the U.S. currency appreciated after the U.S. Federal Reserve suggested interest rates could be headed up sooner than thought.The loonie lost...
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Bank Of Canada Worried About Ukraine

OTTAWA - Bank of Canada is keeping its low-interest rate policy in place for a while longer, signalling Wednesday that it remains to be convinced the global economy is out of danger — adding Ukraine t...
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Get Set for the Next Round of Rate Tightening

After three-and-a-half years of ho-hum on this front, there is renewed interest in interest rates: where they are going, how fast, and what we need to do to be prepared, if change is indeed in the wind. A lot of the talk is related to another 'up' that scares us: inflation. Talk of rising interest rates is very good news, since it strongly suggests higher confidence in near-future growth.
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Mortgage Rate War Is Back

UPDATE: Another big Canadian bank has lowered some of its mortgage rates slightly after an initial reduction by the Royal Bank over the weekend. TD Canada Trust (TSX:TD) now has a posted discounted ra...
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BoC Issues Very Gloomy Forecast

OTTAWA - The Bank of Canada has pointedly dropped its warning about the potential for higher interest rates, triggering a sell-off in Canadian dollars that pushed the loonie almost one cent lower Wedn...
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Good News About Interest Rates

OTTAWA - The Bank of Canada won't pronounce on interests rates until later this month, but Scotiabank economists are jumping the gun in speculating Canadians won't have anything to worry about until 2...
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There Is No Housing Bubble: Poloz

VANCOUVER - The head of the Bank of Canada gently urged businesses to ease open the purse strings and start spending Wednesday as he said the economy was nearing a tipping point toward normal growth f...
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No Movement, And Don't Expect Any

OTTAWA - The Bank of Canada is holding its main interest rate at one per cent, where it has been since September 2010.Economists widely expect the central bank to hold its trendsetting rate steady wel...
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Must-Knows About Buying Real Estate Now

Is now a good time to buy real estate amid glowing reports of low mortgage rates and high demand Professional pictures of stunning homes and condos with granite, marble and nine-foot ceilings all serve as eye candy, tempting gullible and may dupe home buyers to drop down payments on not-so-smart real estate buys.
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Where Does He Stand?

OTTAWA - Newly minted Bank of Canada governor Stephen Poloz will deliver on Wednesday what will undoubtedly be the most-watched statement from the central bank in recent months.Some have been urging t...
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Canada's National Obsession Is..

Most Canadians think about real estate on a regular basis, and a good number of them are obsessed with it, an online survey suggests. That's the takeaway of a recent poll by online home selling firm...
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Condo Craze A Major Risk To Canada: BoC

OTTAWA - An overbuilt and overpriced condominium market is posing a risk to Canadian households, banks and the economy in general, the Bank of Canada warned Thursday in its latest review of the health...
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A Dirty Little Secret About Mortgage Interest Rates

TD Canada Trust announced that they were increasing the interest rate on a five year closed mortgage from 3.09 per cent to 3.29 per cent. If your mortgage interest rate goes from 3 per cent to 4 per cent, how much did it go up? The obvious answer is 1 per cent, but if your mortgage interest rate goes from 3 per cent to 4 per cent, your interest increased by one third, or just over 33 per cent.
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Half Empty Or Half Full?

TORONTO - A new Harris/Decima poll conducted for CIBC says half of the respondents had been able to reduce their debt level over the past 12 months.It found 71 per cent of the people surveyed national...

What Really Makes a "High Interest" Loan

While the concerns regarding the potential negative impact of certain high interest loans are legitimate, the debate has failed to consider the context in which high interest loans exist. It is too simple to label a loan "high interest" by looking only at the annualized interest rate. There are many other factors that determine the true cost of borrowing.
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Was Your Mortgage Made In Bangladesh?

The tumultuous events in Bangladesh are not as far away as you might think, and their effects on your well-being go far beyond cheap chic clothing. What we have on a global scale is a massive amount of lending by the poor to the rich. Sounds crazy, doesn't it? To his credit, Fed Chairman Ben Bernanke was one of the first economists to identify this problem, way back in 2005. He called it a global savings glut. It has only gotten worse since then. It is responsible for your low mortgage rate, and also large deficits and high unemployment in the industrialized countries.
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Bad News, Canada

OTTAWA - The Bank of Canada sharply downgraded its expectations Wednesday on economic growth for the first half of this year, but held the line on offering more stimulus because it says it still belie...
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Is Now Really a "Great" Time to Take on Debt?

BMO's recent decision to lower its mortgage rates and potentially trigger yet another mortgage price war among Canadian banks. This has triggered a debate among analysts and commentators about the merits of debt -- one outlining this week why "it's a great time for Canadians to be in debt."
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Suddenly, Not So Worried About Debt

OTTAWA - The Bank of Canada is hinting it is less concerned about household debt levels, making it possible to keep attractive interest rates in place longer to spur investment and economic growth.As...

The Cost of Borrowing From a Bank

The competition continues to intensify between Canadian bank and non-bank lenders to carve out their share of the $18.4-billion market for small-business loans of up to $250,000. But as entrepreneurs assess their options, here are 10 points to consider that, in addition to the headline interest rate, impact the total cost of borrowing.
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BoC Keeps Key Interest Rate At 1%

OTTAWA - The Bank of Canada said Wednesday interest rates will need to stay at super-low levels longer — likely until 2014, say analysts — after conceding it misjudged the strength of the economy and...