TD Canada Trust Raises Rates 4/5/2011
Apr04

TD Canada Trust Raises Rates 4/5/2011

On 4/4/2011, the Toronto Dominion Bank (TD Canada Trust) [TD/tse:TD], announced fixed mortgage rate increases. It is expected that the other big banks (Royal Bank, CIBC, Scotia, National Bank, BMO, etc) will follow suite and raise rates as well.

Read More
Bank of Canada Maintains Overnight Rate At 1% – 3/1/2011
Mar01

Bank of Canada Maintains Overnight Rate At 1% – 3/1/2011

On 3/01/2011, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% (1 1/4 percent) and the deposit rate is 0.75% (3/4 percent). . Canada’s Recovery & Rebalancing Of Demand The move reflects the central bank’s observation that economic activity in Canada has been proceeding “slightly faster than expected” compared to its previous projections: •...

Read More
Variable Vs Fixed Rate Mortgage
Jan28

Variable Vs Fixed Rate Mortgage

Although rates have increased from their historical lows since the height of the financial crisis, they still remain relatively low. For those thinking about renewing or getting a new mortgage, the age old question of which type of mortgage to go with comes to mind.  Is a Fixed Rate Mortgage (FRM) or Variable Rate Mortgage (VRM) better?  Lets look at some considerations: . Mortgage Types Variable Rate Mortgage (VRM): A variable rate...

Read More
Bank of Canada Holds Overnight Rate At 1% – 1/18/2011
Jan18

Bank of Canada Holds Overnight Rate At 1% – 1/18/2011

On 1/18/2011, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%. . Canada’s Weak Net Exports & High Household Debt The move reflects the central bank’s observation that economic activity in Canada has been proceeding as expected compared to its previous projections.  However, the BoC still remains cautious: • Government...

Read More
2011 Currencies Outlook & 2010 Review
Jan07

2011 Currencies Outlook & 2010 Review

2010 was a rollercoast year for currencies.  The euro dropped versus the US dollar to its lowest level since 2006, due to the European sovereign debt crisis. Canada’s financially stable banking system and commodity rich economy helped the Canadian dollar to rise above parity.  The Japanese yen, also rose to a 15 year high against the dollar after the Bank of Japan and new prime minister intervened in the market, to aggressively...

Read More