Mortgage lending will remain stable despite the pandemic – Bank of Canada

Amid the global pandemic, Outgoing Bank of Canada governor Stephen Polz said that the bank will continue on. In fact, he said that the bank’s functioning was a key to keep the economy functioning and healthy. Ongoing programs include increased spending and increased participation in the federal government’s treasury system. This, in turn, will help to support a functioning of a particular market for all Canadians and will improve the financial burden of the current pandemic.

Key Takeaways:

  • The Bank of Canada has continued strong lending programs during the pandemic, which are believed to help keep the economy going.
  • The current governor of the bank recently made a statement about the programs that the bank has at the moment.
  • The bank is also focusing on programs to keep the mortgage rates stable.

“Central to ensuring the strength of the mortgage market is the BoC’s program of purchasing Canada Mortgage Bonds”

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