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Posted by: Dean Kimoto
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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With credit growth grinding to a near halt and delinquency rates on the rise, it’s clear that Canadian borrowers are feeling the pinch of high interest rates and a slowing economy. Yet, CIBC Deputy Chief Economist Ben Tal sees some silver linings amidst these challenges, which he says suggest we’re heading for more of a […]
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Technology is constantly evolving and adapting to our needs as a society and individuals. One of these exciting developments has been the creation and evolution of smart homes. WHAT IS A SMART HOME? A smart home is any home where the homeowners are able to control thermostats, lighting, appliances and other devices remotely over the […]
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While conditions for rate cuts are expected to materialize over the course of the year, the Bank of Canada itself appears divided over when exactly these conditions will be met. That’s according to the latest summary of deliberations from the Bank of Canada’s March 6 monetary policy meeting, where its six-member Governing Council unanimously voted to leave the […]
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