Yesterday the Bank of Canada left the overnight rate unchanged again, stating that the economy is performing as expected. It is expected to remain unchanged until at least October of this year. Many economists however, feel the economy could be heading for a recession and that rate cuts are necessary. The economic data over the… Read More…
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Bank of Canada Rate Remains Unchanged
https://dominionlending.ca/news/bank-of-canada-reduces-prospects-of-a-rate-hike/
Bank of Canada Rate Remains Unchanged
Yesterday the Bank of Canada announced that it would hold the overnight rate to 1.75%. For variable mortgage clients, bank prime rates for most lenders remain at 3.95%. Effective rates range from 2.95% and up for 5 year variables. In comparison, typical 5 year fixed rates are starting at 3.69% these days, with some specials… Read More…
Bank of Canada Holds Rate Steady
As was pretty much expected, the Bank of Canada held the overnight interest rate at 1 ¾% this week, citing a weaker outlook for the Canadian economy. The softer tone from the Bank is in direct contrast to what they said when they last met October 24. Since that time, oil prices have fallen considerably… Read More…
Four-Month Home Sales Gain ends in September
Here is a great article from DLC’s Chief Economist Sherry Cooper regarding home prices, house listings, and rent. Four-Month Home Sales Gain Ends in September
Stress Test…Eight Months Later
The government’s latest mortgage rule changes have caused an imbalance between supply and demand in almost every region of the country, and will result in an estimated 200,000 fewer jobs being created over the next three years. Those are among the findings of Mortgage Professionals Canada’s newly released Report on the Housing and Mortgage Market in… Read More…
Millennials: How to get into the Housing Market
This particular period in time might be the most difficult ever for a Millennial to buy a home. There are several factors at play here working against them; stagnant incomes, high home prices and the stress-test introduced by the Liberal government on January 1/18. In 1976 the average median income for 25-34 year olds was… Read More…
Pay Off Your Debt AND Reduce the Amortization on Your Mortgage
Paying down, and off, debt is a priority in everyone’s life. Every family and individual should have a written household budget. There are plenty of these online to be had. If you don’t have one or would like me to send you one, please email me and I will do so. By paying off one… Read More…