Bank of Canada lowers overnight rate target to ¾ percent FOR IMMEDIATE RELEASE Media Relations 613-782-8782 Ottawa, Ontario March 13, 2020 The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¾ percent. The Bank Rate is correspondingly 1 percent and the deposit rate is ½ percent. This…
Details* As indicated on the Government of Canada and Quebec websites as of 28/03/2020 Federal Government ______________________________________________________________ Support for individuals and families ______________________________________________________________ Increasing the Canada Child Benefit An extra $300 per child through the Canada Child Benefit (CCB) for 2019-20. This will mean approximately $550 more for the average family. This benefit will…
DetailsBank of Canada lowers overnight rate target to ¼ percent The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower…
DetailsWith everything going on in the world today, it would be nice to believe that the banks and governments would allow Canadians to take a break from paying bills, however, this is simply not true. The government of Canada, in the midst of this Covid-19 outbreak, has made recommendations to Banks and Financial institutions. Part…
DetailsAs we are going into some of the most trying times this country has faced in years, many of our clients are wondering about what direction the mortgage market in Canada will take. Over the last number of days, I have received many emails from our clients requesting information on rates as well as market…
DetailsFOR IMMEDIATE RELEASE Media Relations 613-782-8782 Ottawa, Ontario March 4, 2020 Available as: PDF The Bank of Canada today lowered its target for the overnight rate by 50 basis points to 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. While Canada’s economy has been operating close to potential…
DetailsWith mortgages being more complicated than ever, Terry Kilakos simplifies the process for mortgages big & small Ever wonder how someone can get a $10M mortgage? Look no further. Terry Kilakos has been Montreal’s best kept secret for over a decade. Since 2007, this mortgage broker has been moving and shaking the mortgage…
DetailsMovies and television may leave some with the impression that getting into real estate is a quick and easy way to get rich. But the reality is that the business is difficult to navigate, and requires a lot of hard work and attention to detail. It’s a career that comes with a great deal of…
DetailsThis year’s federal budget had some big-ticket items for real estate and, most importantly, some incentives for first-time homebuyers. But these measures are gimmicks, according to Conservative Deputy Finance Critic Tom Kmiec, member of Parliament for Calgary Shepard. On a recent episode of CJAD 800 Montreal’s Real Estate Show, Kmiec told host and North East…
DetailsAs we’ve been reporting for months on our North East blog and on CJAD 800 Montreal’s Real Estate Show, instead of protecting many homeowners, the federal government’s restrictive mortgage rules are pushing people out of the safe mortgage market, and into the arms of secondary lenders. By pushing people to the alternative lending market, they’re…
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