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Posted by: Dean Kimoto
President Donald Trump has officially confirmed that tariffs on Canadian and Mexican imports will go into effect on March 4, 2025, following his comments earlier this week suggesting a delay. Trump plans to impose a 25% tariff on imports from Mexico and Canada, while applying a reduced 10% tax on Canadian energy products, including oil […]
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Variable mortgage rates are looking increasingly attractive compared to fixed rates, with the potential for significant savings, according to new research from BMO Economics. With additional Bank of Canada rate cuts expected this year, the bank argues that variable-rate mortgages could offer borrowers more savings over the long run. “With borrowing costs more likely to fall than rise—and by […]
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Canada’s inflation report for January has led to a sharp decline in the chances of the Bank of Canada cutting rates in March. Canada’s headline inflation rate rose by 1.9% year-over-year in January, a slight increase from December’s 1.8% and in line with expectations. The increase in headline CPI was largely driven by higher […]
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After the Bank of Canada’s latest rate reduction 5-year variable mortgage rates are now on par with their fixed-rate counterparts, raising the question: Is now the time to go variable? With additional Bank of Canada rate cuts expected, variable-rate mortgages are becoming an increasingly attractive option. But choosing flexibility comes with its challenges—borrowers must weigh potential […]
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Canada received a temporary reprieve from U.S. tariffs for at least 30 days, but if enacted, BMO warns the Bank of Canada may be forced to cut its policy rate to 1.50% by year-end. That would be a full 100 basis points (one percentage point) lower than BMO’s current forecast, which expects the Bank of Canada’s rate […]
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Canada Mortgage and Housing Corp. says high housing costs are restricting population mobility in the country, as Canadians are finding that it’s too pricey to buy or rent in cities where they seek jobs. The federal housing agency said its analysis shows that a one per cent increase of housing prices in a destination city […]
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The Bank of Canada (BoC) reduced the overnight rate by 25 basis points this morning, bringing the policy rate down to 3.0%. The market had anticipated a nearly 98% chance of this 25 basis point reduction, and consensus aligned with this expectation. The Federal Reserve is also set to announce its rate decision this afternoon, […]
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Economists and markets expect a 25-basis-point rate cut this week, bringing the Bank of Canada’s policy rate to a two-year low of 3%. This cut, which would be the BoC’s sixth in a row since its policy rate reached a peak of 5%, is already largely priced into the market. If it happens, the prime rate will […]
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The federal government’s launch of the Secondary Suite Refinance Program on January 15 was largely met with optimism, but some brokers note that questions remain. The program, first unveiled in October, allows homeowners to refinance up to 90% of their property’s value (capped at $2 million) to build secondary suites intended for long-term rental use, specifically excluding […]
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The Canadian Housing Market Ends 2024 On a Weak Note Home sales activity recorded over Canadian MLS® Systems softened in December, falling 5.8% compared to November. However, they were still 13% above their level in May, just before the Bank of Canada began cutting interest rates. The fourth quarter of 2024 saw sales up 10% […]
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