Experts say Canadian mortgage owners should brace themselves for a potential rate hike next week from the Bank of Canada and budget accordingly.
Many mortgage owners have felt the effects of higher borrowing costs as the Bank of Canada moved to increase interest rates 10 times since March 2022, bringing the policy rate to five per cent.reported that economic signals have been mixed since the Bank of Canada brought rates higher in July, but a Bloomberg survey found that a majority of economists expect the central bank to hold its policy rate next week.
“Borrowers should be budgeting for a rate hike so that they are prepared if it does happen,” Laird said in a written statement on Tuesday.HOLD VERSUS HIKE “How long can someone continue to break their budget and or account for unexpected mortgage payment increases that they may have never budgeted for or believed that they would ever be needing to face this size of mortgage payments,” he said on Tuesday.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Yuan hits strongest in 2-1/2 weeks after central bank mortgage measuresMarket News
Lire la suite »
How will next week's interest rate decision impact mortgage owners?Experts say Canadian mortgage owners should brace themselves for a potential rate hike next week from the Bank of Canada and budget accordingly.
Lire la suite »
Wall Street investment bank Jefferies is ramping up its Canadian operationRecruits a team of five dealmakers from rival Barclays
Lire la suite »
SEBA Bank approved to offer crypto services in Hong Kong, Tether partners with Bahamian bankSEBA Bank Hong Kong branch receives preliminary approval to offer crypto services in HK while Tether has partnered with a Bahamian bank to process USD transfers.
Lire la suite »
Former staff of China-led bank dispute ex-PR chief’s allegations of Beijing influenceCanadian Bob Pickard quit the Asian Infrastructure Investment Bank in June, alleging the bank is controlled by Beijing’s ruling class and serves China’s geopolitical ambitions
Lire la suite »
Mortgage Growth Buckles Under Weight of Rate Hikes in CanadaThe aggressive pace of interest-rate hikes is hitting mortgage books at Canada’s biggest banks, leading to slowing loan growth, longer amortization periods and a rise in impairments.
Lire la suite »