Bank of Canada raised its key lending rate.
The Bank of Canada raised its key lending rate by 50 basis points this morning, bringing it to 3.75%. In its statement, the Bank said interest rates will need to rise further to control inflation, but that future increases, “will be influenced by our assessments of how tighter monetary policy is working to slow demand, […]
Is co-ownership an option to achieve homeownership?
With interest rates rising and the overall cost of living, more people are turning to co-ownership an creative option to achieve homeownership. Co-ownership with family or friends—once a very niche segment of the market—is one such option that is growing in popularity. A recent RE/MAX survey revealed that a third of Canadian homebuyers (33%) are […]
Understanding what’s needed for your home purchase down payment
For many homebuyers, the down payment is the biggest hurdle along the path to homeownership. Understanding what’s needed for your home purchase down payment is the first key towards home ownership. This is especially true for first-time buyers, who often have to scrimp and save for years to come up with the down payment needed […]
The Bank of Canada raised its key lending rate.
The Bank of Canada raised its key lending rate by 100 basis points this morning, bringing it to 2.50%. The Bank said inflation is “higher and more persistent” than what it had forecast in April, and will likely remain “around 8% in the next few months.” In its statement accompanying the decision, the Bank said, […]
CMHC: House Prices will Grow but Remain Elevated in 2022
Despite rising interest rates, Canada’s national housing agency says it expects that House Prices will Grow but Remain Elevated in 2022 for both home sales and prices. However, it does see the pace of growth pulling back to more moderate levels from historic highs, according to its recently released Housing Market Outlook. “We expect the […]
Interest rates have gone up. But why?
I’m sure you are well aware that interest rates have gone up. But why? Various economists have their own opinions as to why this needed to happen, I will explore some of the factors. As a comparison, at this time last year a five year fixed rate mortgage was 1.99%. It is now an average […]
Bank of Canada Raises Rate by 50 bps
The Bank of Canada has just raised its key lending rate by 50 basis points, bringing it to 1.00%. This marks the second change to the Bank’s overnight target rate this year and the first 50-bps rate hike since 2000. In its statement accompanying the decision, the Bank said, “With the economy moving into excess […]
What’s in the Federal Budget for Homebuyers?
Anne Martin Visit My Website | Email Me | Call Me What’s in the Federal Budget for Homebuyers? The federal government has earmarked more than $10 billion in new spending for housing-related initiatives, much of which is focused on increasing supply. In terms of housing initiatives, the federal budget delivers on a number of Liberal Party campaign promises made […]
Bank of Canada key lending rate rises by a quarter percent
The Bank of Canada key lending rate rises by a quarter percent, citing… This marks the first change to the Bank’s overnight target rate in two years and the first rate hike since October 2018. In its statement accompanying the decision, the Bank said: “As the economy continues to expand and inflation pressures remain elevated, […]
How parents can help their children purchase a home.
Parents can help their children purchase a home in a number of ways. They can act as a guarantor on the loan, co-sign for the mortgage or by gifting all or some of the down payment funds. Home Price increases Home prices in Canada have skyrocketed. In 2021, prices in Canada have increased by 26.6% […]
