Mortgage loans continue to grow with low rates still available
Major lenders passed on to customers only a portion of the central bank's two rate cuts in the first half of the year.
With a new financial report set to be released in the next couple of weeks detailing the financial results of the country's big banks, experts are busy weighing in with estimates on how each of these big banks have fared over the past few months.
With the Canadian housing market continuing to make headlines, plenty of focus has been placed in specific markets such as Vancouver and Toronto due to their home prices' steady rise in prices, with no end in sight.
Bank investors and economists are paying close attention to the Banks' lending practices, especially on providing loans to borrowers who are taking on bigger and bigger loans relative to their incomes in order to buy a home in these markets. With record low rates staying put and no forecast on when they might jump back up is encouraging more lending. Economists have voiced concerns that if rates drop even lower, we might see a renewed borrowing boom.