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% […]
The Bank of Canada held its interest rate
The Bank of Canada met for the first time in 2022 and held its target interest rate at .25% and the bank rate at .50%, with the deposit rate at .25%. Overnight rate – This is the interest rate that the banks lend funds to each other at the end of the day. This rate […]
What to expect from Canada’s housing market in 2022
What to expect from Canada’s housing market in 2022 The unanticipated extent of Canada’s 2021 housing market performance ended the year with both home sales and average prices up over 20%. Comparing this to the previous year, it was driven largely by historically tight housing supply and low interest rates. So, what can homeowners and […]
The Bank of Canada updated its Economic Outlook
The Bank of Canada and updated its economic outlook in its meeting for the last time in 2021. They made no change to its projection that its rate will rise in the middle of 2022. It said that they are watching the inflation issues closely and they would hold the benchmark rate at .25% until […]
A Look at the Federal Government’s Housing Commitments
With the 2021 Federal election behind us, its a good time to take a look at the government’s housing commitments. Not much changed following last month’s federal election. However, the governing Liberals now have an opportunity to deliver a fresh slate of housing policies designed to create stability and assist first-time homebuyers in the marketplace. […]
