Category: News

The Bank of Canada Holds Again in September… But Can It Much Longer?

By: Penelope Graham, Zoocasa The Bank of Canada (BoC) decided to hold pat on its trend-setting Overnight Lending Rate in its September announcement, officially making it an outlier as other central banks around the world take a dovish approach amid growing China-U.S. trade tensions. The rate, which is used by Canada’s consumer lenders to set… Read more »

Fixed or Variable? Both Are Deeply Discounted as BoC Holds July Rate

By: Penelope Graham, Zoocasa Another Bank of Canada rate announcement has come and gone and its trend-setting Overnight Lending Rate has been left once again at 1.75%, where it has sat since October of last year. It certainly seems to be shaping up to be a stable rate environment for variable mortgage holders – but… Read more »

Another Stretch of Rate Stability as Bank of Canada Holds April Rate at 1.75%

By: Penelope Graham, Zoocasa The Bank of Canada (BoC) has ushered in another month of stability for borrowers, opting to keep its Overnight Lending Rate – which sets the variable pricing trends for the nation’s consumer lenders – at 1.75%, where it has remained since October of last year.  Softer economic conditions, both on a… Read more »

Parent Company of Quicken Loans Acquires Lendesk — Leading Canadian Mortgage Tech Startup

Rock Holdings’ investment to accelerate development of Lendesk’s mortgage origination network, streamlining Canadian mortgage broker and lender workflows while increasing security Vancouver, Canada (April 24, 2019) – Lendesk, Canada’s premier FinTech company providing technology to connect mortgage brokers with the country’s top lenders, today announced Rock Holdings, the parent company of Quicken Loans, the United… Read more »

Survey: Home Buyers Wanted Expanded Tax Credit in Federal Budget

By: Penelope Graham, Zoocasa  For Canadian home buyers, the national stress test is likely one of the most reviled mortgage policy changes introduced in recent history. While put in place to reduce risky borrowing practices – an acute vulnerability facing indebted households, according to the Bank of Canada – the stiffer mortgage criteria have received… Read more »

Borrowers Will Enjoy Rate Relief in Early 2019: Bank of Canada

By: Penelope Graham, Zoocasa The Bank of Canada has kicked off the new year with a rate hold, opting to leave its trend-setting Overnight Interest Rate untouched at 1.75% where it has remained since last October. That the central bank held off on hiking rates puts the breaks on its mandate to bring them to… Read more »

How the USMCA Will Lead to Higher Mortgage Rates

By: Penelope Graham, Zoocasa It was a long-fought battle, but trade relations between Canada and the U.S. are now on tentatively stable ground; in September, our two nations, along with Mexico, drafted the United States Mexico Canada Agreement, the new tri-lateral resolution to an impasse over the former North American Free Trade Act. While the… Read more »