Government pressures Manulife to raise their Mortgage rates | Manulife Bank | Discussion forum

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Government pressures Manulife to raise their Mortgage rates
March 19, 2013
2:11 pm
moneysaver
Ontario
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I noticed this article today that Manulife was pressured by Finance Minister Jim Flaherty to end their 2.89% promotional 5 year mortgage rate. Manulife did bring it back to 3.09% for 5 years today. I seen it on their website. The question left now is "Will they bring back their savings account from 1.55% to 1.65% which they lowered a few days before lowering their mortgage rate? As of today they still have it at 1.55%. Here's the article I was reading..

http://www.4-traders.com/MANUL.....-16560047/

March 19, 2013
3:39 pm
kilarney
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seems silly. Doesnt the government have the power to get the central bank of Canada to raise the rates and push(slightly)up the borrowing rate? Why not make very small but steady increases that will put the brakes on ballooning debt and runaway house prices?

March 19, 2013
8:03 pm
moneysaver
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I agree kilarney, Mark Carney should have raised rates by a small amount at least by now. Maybe the new Governor will raise rates after he leaves later this year if he doesn't change them before then. The next interest rate announcement is April 17/13.

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