The minimum income needed to buy a home in Canada lowered in July, according to a new report that cites dropping mortgage rates and lowering average home prices.
— Read on www.ctvnews.ca/canada/minimum-income-needed-to-buy-a-canadian-home-lowered-in-july-1.7006080
Tag: Interest Rates
Live updates: Bank of Canada cuts key interest rate to 4.75% in widely anticipated move – The Globe and Mail
Governor Tiff Macklem and senior deputy governor Carolyn Rogers will hold a news conference at 10:30 am. ET to speak about the decision
— Read on www.theglobeandmail.com/business/article-bank-of-canada-interest-rate-live-june/
When Will the Fed Cut Interest Rates? Don’t Plan on This Year. – Barron’s
Federal Reserve Chairman Jerome Powell and his team had hoped to lower interest rates in 2024. But sticky inflation, a strong economy, and calendar quirks are thwarting their plans.
— Read on www.barrons.com/articles/fed-powell-interest-rate-cuts-projection-69d97a5f
GDP has forecasts mixed on Bank of Canada rate cut | Financial Post
GDP slowed more than expected but economists still divided on when the Bank of Canada will cut interest rates. Read more
— Read on financialpost.com/news/economy/gdp-views-mixed-bank-of-canada-rate-cut
Big Six banks keep putting cash aside for mortgage defaults
Despite challenging economic backdrop, banks report solid Q2 profits this week with five of the six beating analysts’ expectations.
— Read on www.thestar.com/business/big-six-banks-put-millions-more-aside-for-defaults-as-mortgage-payment-shocks-ripple-through/article_5ae55a9a-1e84-11ef-a8a1-d3636b810e89.html
Why the Bank of Canada may hold interest rates again | Financial Post
The Bank of Canada will likely hold interest rates next week and wait for more data on inflation, says economist. Find out more
— Read on financialpost.com/news/bank-of-canada-may-hold-interest-rates-again
Bank of Canada finds pockets of vulnerability in financial system | Financial Post
Bank of Canada says higher leverage among hedge and pension funds is not a problem yet, but could be if there is a dash for cash. Read more
— Read on financialpost.com/fp-finance/bank-of-canada-finds-pockets-vulnerability-financial-system
Bank of Canada says two per cent inflation target necessary | Financial Post
Senators question whether Bank of Canada should just raise inflation target to give Canadians relief on high mortgage rates. Read more
— Read on financialpost.com/news/macklem-defends-bank-of-canada-inflation-target
Bank of Canada says any rate cuts would probably be gradual | Reuters
By Promit Mukherjee and David Ljunggren
— Read on www.reuters.com/world/americas/bank-canada-says-any-rate-cuts-would-probably-be-gradual-2024-04-24/
U.S. Debt Interest Payments Reach $1 Trillion
U.S. debt interest payments have surged past the $1 trillion dollar mark, amid high interest rates and an ever-expanding debt burden.
— Read on www.visualcapitalist.com/u-s-debt-interest-payments-reach-1-trillion/