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Thursday, August 18th, 2016

IRD Penalty Comparison Rates

The much-unlovedInterest rate differential (IRD) penalty is a mystery to most of the natural born population. People loathe it, largely because they don’t understand it. We continually come across folks who read their entire mortgage contract and are still confused by the IRD calculation. Fortunately, federal disclosure guidelines are on their way later this year. […]

Bank of Canada maintains overnight rate target at 1 per cent

The Bank of Canada announced that it is maintaining its target for the overnight rate at 1 per cent. In its decision, the Bank showed caution in the face of an improving Canadian economy. “The recovery in Canada is proceeding slightly faster than expected, and there is more evidence of the anticipated rebalancing of demand,” […]

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