During the early days of the mortgage business, brokers would require a lot of paperwork to be submitted by prospective clients in order to get them approved by a lender. No more. Brokers are now increasingly using digital onboarding to do…
Canadian businesses and consumers are feeling the effects of interest rate increases exceeding 450 basis points (4.5%) since April 20, 2022 and expected high inflation. According to the Bank of Canada’s latest quarterly Consumer Survey of Consumer Expectations, current economic conditions…
The Canadian banking regulator has confirmed that it will not pursue several proposed mortgage regulations, which it introduced earlier this summer after they received widespread criticism and concern during the public consultation period. The Office of the Superintendent of Financial…
CIBC deputy chief economist Benjamin Tal said that while we are very close to the end of Bank of Canada rate hikes–or maybe already there–the biggest question is when the Bank will be cutting rates. On that front, he believes…
The Bank of Canada’s rate decision next week is more likely to be a rate hold, as Canada’s headline rate of inflation has once again been trending down. Statistics Canada announced Tuesday that the headline CPI inflation rate rose by…
