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 […]
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% […]
How to make sense of all the rate hike predictions.
How to make sense of all the rate hike predictions that have been talked about in the news lately and where mortgage rates are headed can be pretty confusing. We know the obvious direction from here is up, but what we don’t know is how high and how quickly. Nobody, not even the experts, can […]
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. […]
Barrie housing market is showing signs of overheating.
The City of Barrie’s housing market is showing signs of overheating, again! This could be good news for home sellers who may not be immediately buying another home or those buying in a lower priced location. It may not be favourable for those who are planning to stay within the city or First Time Buyers. […]
What to do if you are going to miss a mortgage payment.
Don’t fret if you are going to miss a mortgage payment. Life happens and your mortgage company can be sympathetic. For the majority of mortgage borrowers, missing a single mortgage payment is not a concern. But have you ever wondered what would happen if, for some reason, you couldn’t make your payment? Below I’m going […]
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 […]
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 […]
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 […]
