OTTAWA — Nearly one in six Canadians would not be able to handle a $500 increase in their monthly mortgage payments, a new survey from the Bank of Montreal suggests. According to the bank, 16 per cent of respondents said they would not be able to afford such an increase, while more than a quarter,
As expected, the Bank of Canada refrained from cutting interest rates at today’s policy meeting. The recent economic news has shown a marked improvement, precluding the Bank from following on the previous two rate cuts this year. The key policy overnight rate is only 50 basis points (one-half of one percentage points) and another 25 basis
Canadian debt levels rising with home prices, but mortgage rules helping to manage risks: BoC deputy OTTAWA — Rising home prices have increased household debt levels, but steps taken by regulators to tighten mortgage lending rules have helped manage the associated risks, according to the Bank of Canada. In a speech in Kingston, Ont., deputy
