The Bank of Canada interest rate was held today.

The Bank of Canada made an interest rate announcement today.  They said that it will hold its target overnight interest rate at .25% for deposit rates and .5% for bank rates.  It stands by its projection that interest rates are likely to begin to rise in the second half of 2022. The Bank is also […]

Canada Greener Homes Grant

Window replacement

The federal government of Canada announced the Canada Greener Homes Grant.  This grant helps home owners make their homes more energy efficient, save on utility bills and contribute to the fight against climate change. Our homes account for 18% of Canada’s greenhouse gas emissions. If we’re going to meet the goals set out in climate […]

Increase to the mortgage stress test rate for insured mortgages.

On May 20, 2021, as expected, the Department of Finance extended the increase to the mortgage stress test rate to insured mortgages.  This change is no longer proposed, but will come into affect June 1st. The rate goes from 4.79% to 5.25%, to match the already announced change to uninsured mortgages.  This is the rate […]

Proposed increase to the mortgage stress test

Shopping for a Mortgage? A Stricter Stress Test is Likely on the Way The government has introduced an increase to the mortgage stress test.  If you’re in the market for a mortgage over the next several months, you’ll want to read on. Several new mortgage changes are coming down the pipeline that could affect your ability […]

Proposed changes to cool the crazy housing market.

As expected, the federal government is looking at ways to cool the crazy housing market by making changes to the mortgage stress test. Among other reasons, low interest rates have helped to fuel the current state of the housing market which now at one of the fastest paces its ever been.  Prices have increased exponentially […]

Home prices in the City of Barrie are skyrocketing!

Home prices in the City of Barrie are skyrocketing. Fueled by many factors including people working from home who want larger spaces and better affordability, supply and demand issues and low interest rates, home prices have skyrocketed.  Real estate agents are reporting multiple offer situations on most properties offered for sale. Properties sold According to […]

Spring is here! Its time to plan your garden!

After a dreary depressing winter Spring is here!  Not to mention the wonderful weather we are having today and expecting for the rest of the week.  Its time to plan your garden! I’m tempted to get outside and start raking away the residue from the long winter.  There are leaves to clean up that were […]

February job market looking good!

Jobs market

Finally, some good news!  The February job market is looking good! Stats Canada released the February 2021 Labour Force Survey that concluded stronger than expected job growth.  The easing of the latest restrictions and lockdowns revived the labour market; a pleasant surprise. Canada’s economy has been resilient but we still remain at risk because of […]

Bond rate increases might trigger interest rate increases.

I appears to be happening!  Fixed interest rates are on the rise!  Rising Bond Rates Fixed mortgage rates are determined by the 5 year bond yield which has been closing at increased values.  This ends up costing mortgage lenders more as the margins that they use for profit and expenses decreases because their borrowing costs […]

Tremendous housing market gains in Barrie in January 2021

The statistics are in for January 2021 and in spite of Covid 19 lockdowns and business closures, Barrie and District Real Estate Board had tremendous gains in housing market activity as compared to January 2020. Its important to note that we are comparing pandemic numbers to pre-pandemic numbers. City of Barrie In the first month […]