The Bank of Canada hikes rates by 25 bps
The Bank of Canada raised its key lending rate this morning by 25 basis points this morning, bringing it to 4.75%. This is the Bank’s second rate hike of the year following two pauses in March and April. In its statement, the Bank said today’s decision reflects its view that “monetary policy was not sufficiently […]
The Bank of Canada leaves rates unchanged
The Bank of Canada delivered a rate pause this morning, leaving its key lending rate unchanged at 4.50%. This is the Bank’s second pause following eight consecutive rate increases, which raised the overnight target rate by 425 bps since March 2022. In its statement, the Bank repeated that it “continues to assess whether monetary policy […]
Planning for your future?
Planning for your future is important when you make one of your most important purchases of your life. But does your mortgage vanish when you pass away? The short answer is no. It may seem like a morbid thought, but the fact is, for most people, their mortgage is the largest debt they’ll carry in […]
The Bank of Canada delivered its eighth consecutive rate hike.
The Bank of Canada delivered its eighth consecutive rate hike on Wednesday, January 25, but said it would likely now pause to assess the impacts of its rate hikes to date. As expected, the Bank of Canada raised its overnight target rate by 0.25% to 4.50%. That’s 425 basis points higher than it was this […]
Canada’s new foreign home buyer ban
The start of the new year saw Canada’s new foreign buyer ban officially come into effect. The two year-ban was originally passed by Parliament in June to help address housing affordability challenges. It will apply to non-Canadian individuals and commercial enterprises. However, the Prohibition on the Purchase of Residential Property by Non-Canadians Act includes a long list […]
Its not just about the interest rate!
Its not just about the interest rate! A common mistake some mortgage shoppers make is focusing entirely on getting the lowest rate. Don’t get me wrong, a low rate is important, of course, and that’s my goal too. But there are also other considerations to keep top of mind when looking at a mortgage product: […]
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, […]
