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Mortgage Rates & Mortgage Broker News in Canada

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The Canadian economy is tracking 1.3% annualized growth between July and September, slowing down from a robust second quarter and coming in weaker than the Bank of Canada forecasted.

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Bank of Canada Governor Tiff Macklem warned that U.S. borrowing is on an unsustainable trajectory as he offered an unusually blunt assessment of American tax and spending policy, which is putting pressure on global bond yields.

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The Bank of Canada raised its benchmark interest rate Wednesday in an effort to fight inflation. But for the nation’s housing market, the move is a heavy blow.

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The Bank of Canada's rate hike Wednesday is set to translate to higher borrowing costs for homebuyers, adding further pressure as the real estate sector also copes with rising prices for construction materials.

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The Bank of Canada hiked interest rates to ward off upside inflation risks posed by higher energy prices, and said it may need to raise borrowing costs further.

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