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Posted by: Dean Kimoto
Today the bank of Canada held its policy interest rate at 5% citing slowed economic growth due to a weakening in consumption growth, decline in housing activity, and the impact of wild fires across the country. See the full Bank of Canada post here: Bank of Canada maintains policy rate, continues quantitative tightening How does […]
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Weaker-than-expected GDP data last week likely sealed the deal for a rate hold tomorrow by the Bank of Canada. But not all economists are convinced that this marks the end of the current rate-hike cycle. Statistics Canada reported on Friday that second-quarter economic growth contracted by 0.2% compared to Q1, well down from the Bank of Canada’s […]
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Rate hikes are definitely off the table The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected. Real GDP edged downward by a 0.2% annual rate in Q2. The consensus was looking for a 1.2% rise. The modest decline followed a downwardly revised 2.6% growth pace […]
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Originally introduced to mitigate borrower default risks in the event of rising interest rates, some brokers now argue that Canada’s mortgage stress test is no longer needed with interest rates presumably near their peak. Others, however, say it’s a tool that’s best left in place for the time being. Back in 2016, the federal government […]
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Despite detached home prices in Toronto and Vancouver posting year-over-year declines in the first half of the year, a longer-term view shows prices are still elevated, and in many cases higher compared to two or three years ago. In its Hot Pocket Communities Report released Tuesday, RE/MAX found that detached homes in nearly 93% of the 82 […]
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Maybe I work with your bank already. Except… I might have a better option. It’s worth asking! I just did a quick scan and from what I just saw The Dominion Lending Centres network has access to at least 76 lenders (and some local credit unions we work with I noticed weren’t on this list, […]
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Over the next few days, the new federal cabinet will gather in P.E.I. for their summer retreat. This is their first opportunity to get together and set priorities ahead of the return to Parliament in mid-September. As they work to address the pressing issues of “making life more affordable” and “building more housing,” we ask […]
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Just read a great article on Real Estate Invesment Properties vs other options, CLICK HERE to read in full. The quick review: in terms of cashflow, purchasing an investment property right should be compared against other investments. For the long term, in terms of asset appreciation, well that may be another story! As always, best […]
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Your payment schedule is the frequency that you make mortgage payments and ranges from monthly to bi-monthly, bi-weekly, accelerated bi-weekly or even weekly payments. Below is a quick overview of what each of these payment frequencies mean: Monthly Payments: A monthly payment is simply a single large payment, paid once per month; this is the default […]
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Home sales and prices continued to ease in July following the two latest rate hikes from the Bank of Canada. On a seasonally adjusted basis, home sales fell 0.7% from June to July, according to the latest monthly data from the Canadian Real Estate Association. This marks the first monthly contraction in six months. While […]
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