Blog
January 13, 2025
60% of Canadian mortgage renewals to face higher rates by 2026: BoC
Canadian Mortgage Trends ~ January 13th, 2025 Despite interest rates having fallen materially in 2024, recent data show that many Canadian homeowners could still face payment shocks when their mortgages renew. Around 60% of outstanding mortgages are set to renew by the end of 2026, and about 60% of those […]
January 6, 2025
Interest rate cuts, mortgage rule changes could speed up GTA housing market in 2025, experts say
CBC News ~ January 3rd, 2025 Interest rate cuts and changes to Canada’s mortgage rules could set the stage for change in the Greater Toronto Area’s real estate market this year, experts say. Last year the federal government expanded eligibility for 30-year mortgage amortizations to all first-time homebuyers and all […]
December 28, 2024
Mortgage outlook 2025: Canadians can expect lower rates, deals next year
Yahoo Finance ~ December 24th, 2024 With inflation back to the Bank of Canada’s two per cent target and rate cuts expected to continue through next year, Canadians should anticipate lower mortgage rates and better deals going into 2025, experts say. Canadians have been facing higher interest rates over the […]
December 13, 2024
Bank of Canada cuts interest rates: Read the official statement
Financial Post ~ December 11th, 2024 The Bank of Canada today reduced its target for the overnight rate to 3.25 per cent, with the Bank Rate at 3.75 per cent and the deposit rate at 3.25 per cent. The Bank is continuing its policy of balance sheet normalization. The global […]
December 9, 2024
Rate cut hopes could have ‘psychological’ impact on homebuyers in 2025
Global News ~ December 5th, 2024 Canadian real estate watchers are expecting home prices and housing activity to rise in 2025 after a “recovery year,” but the Bank of Canada’s policy rate will still have sway over how quickly buyers come back. Royal LePage released its 2025 housing outlook on […]
November 19, 2024
Canadian home sales post ‘October surprise’ as buyers flood back
BNN Bloomberg ~ November 18th, 2024 (Bloomberg) — Canadian home sales rose to their highest level in more than two years as a string of interest rate cuts by the central bank started to draw buyers back to the market. Transactions surged 7.7% in October from a month earlier to […]
November 11, 2024
Pros and cons of a 10-year fixed mortgage: Is stability worth the cost?
While the vast majority of homeowners opt for the familiar 5-year fixed term, a tiny percentage of Canadians prefer the stability that comes with locking in a 10-year rate. In an unpredictable world where interest rates fluctuate, a 10-year fixed mortgage can offer peace of mind with long-term, stable payments. […]
October 24, 2024
Bank of Canada reduces policy rate by 50 basis points to 3¾%
www.bankofcanada.ca The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization. The Bank continues to expect the global economy to expand at a rate […]
October 15, 2024
New actions announced to encourage building of secondary suites, more homes in Canada
CTV News ~ October 9th, 2024 The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties. The first action is changes to how lenders […]
September 30, 2024
Homeowners will no longer need to do stress test when switching mortgage providers
CBC news ~ September 26th, 2024 The national banking regulator says it will no longer require borrowers with uninsured mortgages to undergo a stress test when switching providers. The Office of the Superintendent of Financial Institutions says it will end the policy for lenders to apply the minimum qualifying rate […]
