Since the fall of 2023 we have been fortunate to witness a slow and steady decline of the post Covid highs. This downward trajectory came to a sudden halt with the start of the war with Iran. We have seen upward pressure on Bond rates, which has directly resulted in several increases in both 3 […]
The Bank of Canada held their latest rate meeting March 18th and as widely expected decided to hold the overnight rate steady at 2.25%. Although there was virtually no chance of a rate hike, many people holding variable mortgages and lines of credit were rooting for a cut. Some factors that would likely have been […]
As I’m sure that you are aware the Liberals were voted in once again. With a less than stellar track record over the past decade one can only hope that a change in leader will lead to some actual change in policy that will help homeowners and prospective homeowners out, from an affordability stance. At […]
The Bank of Canada paused its streak of rate cuts in April, following seven consecutive rate cuts over the past year, holding the overnight rate at 2.75% It seems a lot of people have been overly optimistic that a further rate cut was in the cards for this April however, with market uncertainty here along […]
On March 12th, the Bank of Canada lowered the overnight rate again, cutting its policy rate by another .25%, to 2.75%. If you have a variable-rate mortgage or a secured or unsecured line of credit, you should see a decrease in your effective interest rate shortly. How does this affect you? The majority of lenders […]
Donald Trump is on his way in, Justin Trudeau is on his way out. Inflation is Canada is currently below the target of 2%, while inflation in the U.S has been a more stubborn target. The American economy has been strong and all indicators appear that it will strengthen over the course of 2025. This […]
The federal government has announced two big updates to updates to CMHC eligibility for First-Time Homebuyers. Whether the changes are an effort to garner votes, or increase affordability is up for debate. THE FIRST UPDATE: INCREASE TO THE MAXIMUM VALUE Currently, CMHC-eligible insured or insurable mortgages are limited to home values of $1 million. The […]
Good news this morning! Tiff Macklem, the Governor of the Bank of Canada, announced a quarter point percentage rate cut to the benchmark rate from 4.75% down to 4.5%. This is the second consecutive meeting resulting in a rate cut announcement this year. Lenders typically follow suit, dropping their own Prime rates within a day […]
The Bank of Canada announced a cut to the overnight interest rate from 5%, by 25 basis points or 0.25%, to 4.75% on June 5th, 2024. Starting in March of 2020, rates were steadily cut to a historic low of .25% which held until March of 2022 at which point rates started to increase steadily […]
The 2023 Fall Federal Economic Statement was recently released in the past few weeks. With Canadians facing increasing financial pain through generationally high inflation, which has resulted in the Bank of Canada raising interest rates to 20-year highs; the federal Liberal government has been subjected to mounting political pressure for them to offer some relief. […]