Ariana Leroux Mortgage Blog

Tues June 5th, 2012 Written by Vernon Clement Jones Canadian Real Estate Wealth "The Bank of Canada left the overnight rate unchanged at 1 per cent Tuesday, in the process suggesting a hike may not come anytime soon.   With specific reference to a weakened global economy, the bank review argues "risks remain skewed to the downside,” although the national outlook remains largely unchanged from earlier largely positive projections. It also stepped back from its warnings about household debt levels and the urgent need to bring that under control. That move in particular lends weight to the idea that the bank will hold off on any rise in its key overnight rate, say analysts, suggesting the central bank may delay until sometime next year. Still, some mortgage brokers are concerned the absence of any rate tightening will strengthen demands from the Office of the Superintendent of Financial Institutions for substantive changes to lender underwriting guidelines. T...