Today’s release of the November housing data by the Canadian Real Estate Association (CREA) showed that national home sales fell year over year, as both month-over-month new listings and the Home Price Index showed prices declined once again. Over the past month, the consensus for Canada’s economic outlook has shifted.  It is now widely believed […]

What’s the rate???  Well, that depends…..  There are a number of factors that determine what interest rate applies to a particular mortgage scenario.  Below are details of some factors to consider: Property Value and Purchase Price This is the price you pay, or the appraised value, whichever is lower, for the property being mortgaged. The […]

The Bank of Canada (BoC) reduced the overnight rate by 25 basis points this morning, bringing the policy rate down to 2.75%, within the neutral range of 2.25%—2.75%. Tariff tremors have already led to a decline in consumer confidence and spending, a weakening labour market, and a decline in business investment. Compound that with falling […]

Trump has imposed tariffs of 25% on goods coming from Mexico and Canada, 10% on Canadian energy, and an additional  10% on goods from China. He justified these actions by claiming they would force Mexico and Canada to address issues related to undocumented migration and drug trafficking. However, while precursor chemicals for fentanyl come from […]

As of March 1, 2025, mortgage rates in Canada have experienced notable shifts, influenced by recent economic developments and monetary policy adjustments. Bank of Canada Rate Cuts Between June 2024 and January 2025, the Bank of Canada implemented six consecutive rate cuts, totaling a reduction of 200 basis points. The most recent cut on January […]

In 2025, a significant number of Canadian homeowners will face mortgage renewals, with over 1.2 million mortgages set to expire.   85% of these were initiated when the Bank of Canada’s policy rate was at or below 1%. Given the current rate environment, even with anticipated reductions, many borrowers will encounter higher interest rates upon renewal.  […]

Canadians work hard to be able to afford a home. However, the high cost of mortgage payments is a barrier to homeownership, especially for Millennials and Gen Z. To help more Canadians, particularly younger generations, buy a first home, new mortgage rules came into effect on August 1, 2024, allowing 30 year insured mortgage amortizations […]

The Bank of Canada cut the overnight policy rate by another 25 basis points to 4.25%. This is the third consecutive decrease since June. The Bank’s decision reflects two main developments. First, headline and core inflation have continued to ease as expected. Second, as inflation gets closer to the target, the central bank wants to […]

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Deciding whether to port your mortgage or get a new one depends on various factors such as your current mortgage terms, the terms of the new mortgage, your financial situation, your timeframe and your long-term plans. Here are some considerations to help you make your decision: PORTING YOUR MORTGAGE Interest rate: If your current mortgage […]