Welcome to " Mortgage by Alexandru ", where the journey to homeownership combines the thrill of finding your dream home with the unbeatable advantage of securing the best RATES available. I understand that the search for the perfect mortgage can be both exhilarating and overwhelming, which is why I am here to guide you towards a truly exceptional experience. Imagine having a trusted partner by your side, equipped with the knowledge and expertise to unlock exclusive RATES that will make your dreams a reality. At "Mortgage By Alexandru", I specialize in delivering personalized solutions tailored to your unique needs, and I take pride in my extensive network of lenders who offer the most competitive RATES in the market. Join me as I demystify the world of mortgages and empower you to discover the perfect home at RATES that will leave you astounded. Get ready to embark...
The Bank of Canada today reduced its target for the overnight rate to 4¼% , with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. The global economy expanded by about 2½% in the second quarter, consistent with projections in the Bank’s July Monetary Policy Report (MPR). In the United States, economic growth was stronger than expected, led by consumption, but the labor market has slowed. Euro-area growth has been boosted by tourism and other services, while manufacturing has been soft. Inflation in both regions continues to moderate. In China, weak domestic demand weighed on economic growth. Global financial conditions have eased further since July, with declines in bond yields. The Canadian dollar has appreciated modestly, largely reflecting a lower US dollar. Oil prices are lower than assumed in the July MPR. Dates Target January 24 5.00% March 6 5.00% April 10 5.00% June 5...
Summary (updated April 2023) The prime rate in Canada as of April 12, 2023 is 6.7%. (last change: +0.25% on January 26, 2023) On Wednesday, April 12th, 2023, The Bank of Canada announced that it will hold the key interest rate at 4.50% and will be continuing their pause on rate hikes for the near future while they look closely at the economy to determine future policy. The continued pause on rate hikes was largely predicted by Canada’s economists. With news of the Silicon Valley Bank failure, bond yields (which influence fixed mortgage rates) dipped significantly. However, the market has now stabilized. Bank economists believe that there will be no more rate hikes for the rest of the year and to possibly expect rate cuts in 2024. 2023 Predictions (updated for Spring 2023) Expectations that rate hikes are done for the remainder of the year look all but certain at this point. We look forward to seeing if the projected rate cuts in late 2023 will materialize. We predict ...
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