BNN Bloomberg ~ November 18th, 2024 (Bloomberg) — Canadian home sales rose to their highest level in more than two years as a string of interest rate cuts by the central bank started to draw buyers back to the market. Transactions surged 7.7% in October from a month earlier to… Read More

While the vast majority of homeowners opt for the familiar 5-year fixed term, a tiny percentage of Canadians prefer the stability that comes with locking in a 10-year rate. In an unpredictable world where interest rates fluctuate, a 10-year fixed mortgage can offer peace of mind with long-term, stable payments. […]

www.bankofcanada.ca The Bank of Canada today reduced its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is continuing its policy of balance sheet normalization. The Bank continues to expect the global economy to expand at a rate […]

CTV News ~ October 9th, 2024 The federal government introduced a number of measures related to housing on Tuesday, which include measures for homeowners wanting to add a secondary suite, taxing vacant land and building homes in place of underused federal properties. The first action is changes to how lenders […]

CBC news ~ September 26th, 2024 The national banking regulator says it will no longer require borrowers with uninsured mortgages to undergo a stress test when switching providers. The Office of the Superintendent of Financial Institutions says it will end the policy for lenders to apply the minimum qualifying rate […]

Financial Post ~ September 20th, 2024 They say good news comes in threes. I don’t know if that’s true or if it’s from the same school of science as astrology, but it happened this week with mortgages. First, Ottawa announced a bombshell loosening of mortgage insurance rules. Second, inflation stunned […]

The Bank of Canada today reduced its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is continuing its policy of balance sheet normalization. The global economy expanded by about 2½% in the second quarter, consistent with projections […]

Global News ~ August 7th, 2024 Canadians gearing up for a run at the fall housing market and existing homeowners with a mortgage renewal looming might see interest rates heading down in the weeks ahead thanks to recent market volatility, experts tell Global News. Stock markets around the world largely […]

CBC News ~ August 1st, 2024 The 30-year amortized mortgages announced in the 2024 federal budget are kicking in on Thursday. First-time homebuyers who are purchasing newly built homes can now qualify for a 30-year mortgage, giving them five additional years to pay off an insured mortgage. For other mortgages […]

Central bank cut rate for 2nd consecutive time, to 4.5 per cent CBC ~ July 24th, 2024 The Bank of Canada cut its key interest rate to 4.5 per cent on Wednesday, with governor Tiff Macklem saying during a news conference that it would be reasonable to expect further rate […]