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Posted by: Dean Kimoto
Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March. The seasonally adjusted annual rate of housing starts in Canada came in at 240,229 units for April, down from 242,267 in March, according to a report Wednesday by the national housing agency. The […]
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While Canada’s economy is still expected to enter a technical recession this year, Oxford Economics now believes the downturn will be less severe than initially thought. In a recent research report, the firm said it expects GDP growth will contract in the second and third quarters before turning positive again in the fourth quarter. “GDP […]
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In the complex world of home financing, a common concern among our clients involves the impact of credit inquiries on their credit scores. Often, the thought of a mortgage credit check can make potential borrowers hesitant and fear it might lower their overall credit scores. We’ve all heard it before… “Can’t you just use my […]
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As variable-rate mortgage holders eagerly anticipate the Bank of Canada’s first rate cut, fixed rates are heading in the other direction: up. After peaking in early October, Government of Canada bond yields—which lead fixed mortgage rates—plummeted by 125 basis points, or 1.25 percentage points, by early January. Since reaching that low, they’ve rebounded by approximately […]
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So, here’s a ‘coincidence.’ The day after we run a story on potential mortgage changes, JT plays coy when reporters ask him about 30-year insured amortizations: “On mortgages, we will have more to say between now and the budget date on April 16, and perhaps we will save it for April 16.”—Justin Trudeau at a news […]
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March’s Weak Jobs Report Sets the Stage for a June Rate Cut Today’s StatsCanada Labour Force Survey for March is much weaker than expected. Employment fell by 2,200, and the employment rate declined for the sixth consecutive month to 61.4%. Total hours worked in March were virtually unchanged but up 0.7% compared with 12 months earlier. The details […]
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After five straight holds of the Bank of Canada’s key interest rate that followed its hiking cycle of more than a year, economists say a rebound awaits the national housing market — but don’t expect a big surge just yet. The central bank is expected to again hold its key rate steady when it announces […]
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Since its official launch in late January in Ontario and Atlantic Canada, BMO’s BrokerEdge division has been making waves and slowly growing its presence in Canada’s mortgage broker channel. The bank kicked off its return to the broker channel—following a 16-year hiatus—in a “small and very deliberate” way, Justin Scully, Head of BMO BrokerEdge, told […]
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March 27, 2024 Vancouver, British Columbia Posted on: https://www.pm.gc.ca/en/news/news-releases/2024/03/27/fairness-every-generation Everyone deserves to succeed. But today, for too many younger Canadians, doing as well as your parents or better – doesn’t seem possible. The middle-class dream feels out of reach. Your hard work isn’t paying off like it did for previous generations. Your paycheque doesn’t […]
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Multimillion-dollar agreement could have ripple effects north of the border A recent settlement announced by a trade body in the US could have ripple effects on Canada’s real estate sector and allow home sellers to make more on their deals, according to a CBC News report. The National Association of Realtors (NAR) has agreed […]
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