BNN Bloomberg ~ January 24th, 2024 Homeowners are feeling the impact of elevated interest rates, real estate experts say, though the Bank of Canada’s latest rate hold will not raise mortgage payments for those with variable or fixed products. The Bank of Canada elected to hold its key policy rate… Read More
Category: News
Canada’s inflation rate held at 3.1% in November. Here’s what happens next
Globe and Mail ~ December 19th, 2023 The big economic story for the coming year is the path of interest rates. With the U.S. Federal Reserve projecting three quarter-point cuts in 2024, naturally people are wondering how the Bank of Canada will handle this process – including those who are […]
Canadian economic outlook for 2024: Shifting into neutral
BDC.CA Despite persistently high inflation and rising interest rates, the news was generally better than expected for the Canadian economy in 2023. At this time last year, many economists wondered whether it was possible to stop the Canadian economy from overheating without causing a recession. Yet we now estimate 1.1% […]
With millions of mortgages coming due, finance minister expects banks ‘to work with’ Canadians
CBC ~ November 26th, 2023 Finance Minister Chrystia Freeland expects banks will follow a new series of rules and guidelines designed to protect Canadian homeowners, millions of whom are set to renegotiate loans at potentially higher rates. “The thing that I hear the most right now is people are concerned […]
Mortgage rates will start dropping sooner than expected. Here’s when — and why
Toronto Star ~ Saturday, November 11th, 2023 Interest rate relief is coming sooner than expected. As recently as last week, the consensus among economists was that the Bank of Canada (BoC) would not begin to cut interest rates until next September. But the latest jobs report, for October and released […]
Bank of Canada will cut rates over mortgage renewals
BNN Bloomberg ~ November 2nd, 2023 Risks related to looming mortgage renewals mean the Bank of Canada is done hiking interest rates, according to a prominent strategist who predicts rate cuts to come halfway through next year. “The bank is done raising rates,” Royce Mendes, head of macro strategy at […]
Number of Canadians finding it ‘very difficult’ to pay mortgage has nearly doubled since March: poll
CP 24 ~ October 23rd, 2023 The number of Canadians who say they are finding it “very difficult” to make their monthly mortgage payment has grown in recent months, nearly doubling since March, according to a new poll published Monday. The online Angus Reid survey, which polled 1,878 Canadians this […]
Slowdown in inflation supports interest rate pause next week, economists say
OTTAWA – Canada’s inflation rate edged down to 3.8 per cent last month as price pressures eased across the economy, setting the stage for the Bank of Canada to hold its key interest rate steady next week, economists say. Statistics Canada released its latest consumer price index report on Tuesday, […]
Mortgage renewing soon? Here are four strategies to reduce the financial pain
Globe and Mail ~ September 12th, 2023 Canadians renewing their mortgage in the next six to eight months face a three-pronged dilemma. For many, there’s the question of how to handle the financial shock from much larger mortgage payments, as homeowners renew at significantly higher interest rates. A year and […]
Housing supply picture improving but Canada still needs 3.5 million more new homes by 2030, CMHC says
CBC News ~ September 13th, 2023 Canada’s national housing agency says progress is being made on building enough housing to fix the country’s affordability gap, but almost 3.5 million new units will still have to be built by the end of the decade, over and above what’s already in the […]
