Should Flaherty be Pointing the Finger at Himself?
Finance Minister Jim Flaherty certainly stirred the pot earlier this month when he started calling on the different banks and lenders in Canada and telling them to increase their mortgage rates. He took a heap of criticism for the move, with just about everyone coming out of the woodwork to tell the Flaherty that such…
Read moreDon’t Believe Negotiating a Better Mortgage Rate is Worth It? Check out these Stories
The Globe and Mail recently surveyed more than 300 mortgage holders throughout Canada to ask them whether they took their lender’s posted rate when they applied for their mortgage, or whether they put their bargaining skills to the test and tried to negotiate for a better rate. The results are surprisingly, and encouragingly, high – with…
Read moreFlaherty Speaks to Banks Once Again about Mortgage Rates
Finance Minister Jim Flaherty has never been shy when it comes to speaking to banks about their mortgage rates. But until now, he’s usually spoken to them mostly through the media, talking about ‘irresponsible lending’ and, at times like earlier this month when BMO dropped their rates, thanking the other big banks for not following…
Read moreWill the Bank of Canada Lower Rates this Week?
The word has long been that Mark Carney, Bank of Canada governor, would soon be raising interest rates now that the near-crisis in housing seems to be dying down, and government officials continue to become increasingly worried about debt. But whether or not that rate will be increased is something we’ll all see this Wednesday,…
Read moreBoC to Leave Rates Low due to Slower Economy
For the 19th decision date in a row (making that a total of 27 months,) Mark Carney and the Bank of Canada announced yesterday that they’d be leaving the Bank’s overnight lending rate at the historic low of 1 per cent. This, says Carney, is due to the fact that the economy has not performed…
Read moreWhen will Interest Rates Go Up?
Last year whenever the subject of interest rates came up, you were sure to hear one thing: rates would remain at their historic lows until at least the end of the year. Well, now the year has come and gone, and now we’re all really starting to question when the interest rate hike is going to…
Read moreBoC says Low Interest Rates Big Risk, but will Keep Them Low
A lot of people have criticized Mark Carney and the Bank of Canada for keeping the interest rates at near rock-bottom lows, then turning around and warning us all about taking on too much debt. But amid the cries of some, pleading with the central bank to raise their rates, the bank has not gone…
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