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Mortgage Rates

  • Canada Finance Minister Won’t Interfere With Banks on Rates

    low rates-sm

    (Bloomberg) -- Canadian Finance Minister Joe Oliver said he won’t pressure the nation’s banks to follow the Bank of Canada’s latest interest-rate cut, or take steps to influence the housing market.

    “I do not intend to interfere with the day-to-day operations of the banks,” Oliver said in an e-mailed statement Thursday. “I have no current plans to introduce new rules regarding residential mortgages.”

  • CIBC Expects Another Rate Cut in March

    low rateA forecast from CIBC World Markets predicts that the bank of Canada will make a further 0.25 per cent cut to interest rates in March despite the current weakness of the Canadian dollar. Chief economist Avery Shenfield says that growth will be lower than 2 per cent this year and sees the loonie falling to 77 cents US and not recovering too much above 80 cents US.

  • The Truth About Your Credit Score

    credit cardsYou might be surprised what your credit score is being used for these days...

    Lenders are placing more and more significance on borrowers' credit when it comes to applying for a mortgage, line of credit or a credit card. What many Canadians don't know, however, is what affects their score and under what circumstances it will be accessed.

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