Bank Of Canada | Evelyn Lopes Realty Team_Blog

Tuesday, February 13, 2024   /   by Evelyn Lopes

How the Overnight Lending Rate Influences Your Financial World

How the Overnight Lending Rate Influences Your Financial World
Ever stopped to think about how a decision made in a high-level banking meeting can affect your mortgage, your savings, and even your entire financial roadmap? It's pretty mind-boggling when you put it into perspective.

Today, we're going to peel back the curtain on one of the banking world's most influential figures – The Bank of Canada's  Overnight Lending Rate, also known as the Key Interest Rate. Understanding this rate is key to grasping the bigger financial picture.
What is the Overnight Lending Rate?
Simply put, the Overnight Lending Rate is the interest rate at which banks lend money to each other. Think of it as the drumbeat to which the entire banking sector marches. It's not just any number; it's the pulse of the banking system, dictating the tempo of their day-to-day lending.
Recently, on January 24, the Bank of Canada made headlines by keeping this rate steady at 5%. This decision is more signc ...

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Monday, July 17, 2023   /   by Evelyn Lopes- Klarine

Creating a winning real estate strategy to finance your home purchase in today’s changing market

Are you dreaming of owning a home within the Toronto GTA, but feel lost in the twists and turns of today's housing market? Check out this blog where you will uncover tips to guide you through creating a rock-solid plan to make that dream home yours.
In the ever-evolving real estate landscape, the urgency for a robust real estate strategy has never been greater. Faced with unprecedented market dynamics and fierce competition, your journey towards homeownership must be underpinned by a comprehensive plan.
Understanding the Basics Real estate isn't merely about purchasing a property - it's about making a long-term investment. With the Toronto GTA’s dynamic market, a clear understanding of the fundamental principles of home financing is critical. The process can be complex, but it becomes manageable when you fully comprehend the basics.
Economic Factors Influencing the Real Estate Market To create a winning strategy, you need to understand the economic indicators that play a ; ...

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Thursday, July 13, 2023   /   by Evelyn Lopes- Klarine

Bank Of Canada Raises Key Interest Rate by +0.25%- July 12th 2023

In a move that comes as no surprise to industry analysts, the Bank of Canada has hiked its overnight interest rate by 0.25% to 5% on July 12th, 2023. The increase, which is part of an ongoing policy of quantitative tightening, was triggered by "an accumulation of evidence" highlighting the persistence of excess demand and elevated core inflation. 

This marks the tenth interest rate hike by the Bank since March 2022 and is expected to lead to banks raising their prime rates to 7.20%. The policy shift, while expected, has sparked concern among observers and is likely to have an immediate impact on variable mortgage rates. 

The Bank's decision was informed by several factors, including a Canadian economy that is demonstrating greater resilience than expected. Despite predictions of consumer spending slowing down due to successive increases in interest rates, recent retail trade data indicates that excess demand remains persistent. 

A significant problem is the ho ...

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Thursday, July 13, 2023   /   by Evelyn Lopes- Klarine

Bank Of Canada Raises Key Interest Rate by +0.25%- July 12th 2023

In a move that comes as no surprise to industry analysts, the Bank of Canada has hiked its overnight interest rate by 0.25% to 5% on July 12th, 2023. The increase, which is part of an ongoing policy of quantitative tightening, was triggered by "an accumulation of evidence" highlighting the persistence of excess demand and elevated core inflation. 

This marks the tenth interest rate hike by the Bank since March 2022 and is expected to lead to banks raising their prime rates to 7.20%. The policy shift, while expected, has sparked concern among observers and is likely to have an immediate impact on variable mortgage rates. 

The Bank's decision was informed by several factors, including a Canadian economy that is demonstrating greater resilience than expected. Despite predictions of consumer spending slowing down due to successive increases in interest rates, recent retail trade data indicates that excess demand remains persistent. 
A significant problem is the hous ...

  real estate, evelyn lopes, evelyn lopes realty team, caledon real estate, brampton real estate, orangeville real estate, caledon, real estate market, erin real estate, mortgage, mortgages, interest rates, high interest rates, bank of canada

Tuesday, February 28, 2023   /   by Evelyn Lopes

MORTGAGE RENEWAL & FINANCING TIPS | HOW TO SAVE MONEY

MORTGAGE RENEWAL & FINANCING TIPS | HOW TO SAVE MONEY

Is your mortgage coming due and you are concerned because of the higher interest rates? There are actions that you can take if you find that your mortgage rate is too high for your comfort level upon renewal.

With increasing and higher mortgage rates many homeowners are feeling stressed.

Are you wondering what you can do, if you find that your mortgage rate is too high upon the renewal date? Are you dreading the thought of paying higher mortgage rates upon renewal? Are you struggling to keep up with your mortgage payments?

Are you feeling…. overwhelmed?

You’re not alone!

The good news is… you can take several actions to control the situation, lower your monthly costs, save money and reduce your stress!

Sound helpful?....Then check out this blog!

With the rapid rise of interest rates over the past year by the Bank of Canada as they tried to curb inflation, we saw many homeowners who wer; ...

  real estate, evelyn lopes, evelyn lopes realty team, caledon, finances, mortgage, mortgage rates, bank of canada interest rates, mortgage renewal

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Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2024 Last Updated April 16, 2024
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