Here's what another Bank of Canada rate hike means for Canadians

Knowing how much it costs to lend money, or to deposit it with the centralLowering the rate generally makes borrowing money more affordable, while raising it makes such activities more expensive.Inflation is a measure of how much the prices of goods and services are rising or falling. High inflation is a sign of an economy that's overheating.'s annual inflation rate reached a peak of 8.1 per cent in June, the highest level in four decades.

Inflation has declined from a peak of 8.1 per cent in June to 6.3 per cent in December, reflecting lower gasoline prices and, more recently, moderating prices for durable goods, the central“Despite this progress, Canadians are still feeling the hardship of high inflation in their essential household expenses, with persistent price increases for food and shelter,” thesaid in a statement explaining its decision to raise its key rate. “Short-term inflation expectations remain elevated.

Assuming their mortgage has a 25-year amortization and they had a 15 per cent down payment, she said a homeowner with a variable mortgage rate of 5.45 per cent on a home priced at $700,000 will have a monthly mortgage payment of around $3,716. “This will put greater pressure on an already struggling housing market,” Zlatkin said in a news release.

bankofcanada JustinTrudeau enough

Who gets this extra quarter percent that's what I'd like to know maybe people too the government get it or does the banks get it

Enjoy, lockdown fans.

It means PierrePoilievre was right and JustinTrudeau is a liar. It means 🇨🇦ians once again are allowing themselves to be hoodwinked and JustinTrudeau eats, diners, lives lavishly. It means that Chrystia Freeland on going plans to 'Hollow out the Middle class' is working.

Means food prices will triple the inflation rate increase

It means that the middle class is going to move below the poverty line, and we move closer to a master-slave relationship again.

The Bank of Canada is an entity of the Government that are run by the big Corporations, they are working together to bring people down to their lowest point. That is fuelling many problems, Debt, bankruptcy, mental heath, violent crime, gun violence, murders are all up by a lot.

No one really cares? Everyone looks fine if it was a big deal than id see protests about it.

1. It means my investments are earning interest. 2. It means I pay a smidge more in interest on my debt. 3. I was raised well, taught how to budget, cook and make delicious for less. This isn't my first experience with inflation--so I can ride it out.

it means very expensive housing just got even more expensive

Hopefully majority of those who voted for Trudeau will lose their homes and live in poverty for the rest of their lives.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What the Bank of Canada's latest rate hike means for mortgage holdersCanadians who watched the cost of taking out a mortgage steadily increase over the last year were dealt another blow when the Bank of Canada upped its interest rate to 4.5 per cent Wednesday. That worse days are ahead, what else? It means people r going to lose they’re houses when they renew if they have a high mortgage, just like in the late 1980’s, so many power of sales, Thank Trudeau for nothing about economy, just give money away and raise taxes The biggest source of inflation in my household has been the increases in my monthly mortgage payments that are 100% a result of Bank of Canada rate hikes. The federal government is my 1 source/cause of inflation. Stop it! And where is all the extra interest collected going?
Source: CP24 - 🏆 30. / 67 Read more »

What the Bank of Canada's latest rate hike means for mortgage holders - BNN BloombergCanadians who watched the cost of taking out a mortgage steadily increase over the last year were dealt another blow when the Bank of Canada upped its interest rate to 4.5 per cent Wednesday. Here's a look at what the interest rate hike will mean for the mortgage sector.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Why the Bank of Canada should hike interest rates this weekJob and inflation numbers indicate a soft landing is within reach but policymakers should resist the temptation to relax restraint. Read on. Want to stop inflation? Then the government needs to stop hemorrhaging money! It's a no brainer! Want to stop inflation? Then the government needs to stop hemorrhaging money! It's a no brainer! Watch your step Tiff. Follow the guide, please.
Source: financialpost - 🏆 7. / 85 Read more »

Posthaste: What another Bank of Canada hike would mean to borrowers and the housing marketBank of Canada is expected to raise interest rates again. What does this mean to Canadian borrowers and the housing market. Find out
Source: nationalpost - 🏆 10. / 80 Read more »

Posthaste: What another Bank of Canada hike would mean to borrowers and the housing marketBank of Canada is expected to raise interest rates again. What does this mean to Canadian borrowers and the housing market. Find out
Source: financialpost - 🏆 7. / 85 Read more »