Canadian Home Prices Fell For The Ninth Consecutive Month As Activity Slowed

General Angela Calla 15 Dec

Another Month, Another Dip In Housing Statistics released today by the Canadian Real Estate Association (CREA) show home sales edged down in November. National home sales fell 3.3% between October and November, continuing the moderating sales trend that began last February on the precipice of unprecedented monetary policy tightening. Sales are down a whopping 39% […]

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Notice of New Federal Legislation Prohibiting the Purchase of Residential Property by Non-Canadians

General Angela Calla 14 Dec

Purpose The purpose of this Advisory is to inform regulated entities of the federal government’s newly enacted Prohibition on the Purchase of Residential Property by Non-Canadians Act (“the Act”), which is set to come into force on January 1, 2023. Overview of Changes The Act prohibits individuals who are not Canadian citizens or permanent residents […]

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Bank of Canada hikes interest rates to 4.25%

General Angela Calla 12 Dec

Interest rates are headed up once again. The Bank of Canada announced it is hiking its trend-setting rate to 4.25 per cent — a rate that was just 0.25 per cent at the beginning of the year. As Emily Lazatin explains, this could have big impacts on any loans you may have. Check out our […]

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Bank of Canada Hikes Overnight Rate to 50 BPS to 4.25%

General Angela Calla 7 Dec

The Bank of Canada Hiked Rates The Full 50 BPS The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 4.25% and signalled that the Council would “consider whether the policy interest rate needs to rise further to bring supply and demand back into […]

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Budgeting for the Year Ahead

General Angela Calla 6 Dec

With the recent inflation and rising prices occurring across the country, it is time to take control of your finances. One of the quickest ways to understand where your money is going and where you can make changes, is to create a monthly budget. This will help you get a snapshot of your income compared to […]

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Home Capital Signs Definitive Agreement to Be Acquired by Smith Financial Corporation

General Angela Calla 2 Dec

TORONTO–(BUSINESS WIRE)–Home Capital Group Inc. (“Home Capital” or the “Company”) (TSX: HCG) today announced that it has entered into a definitive agreement (the “Arrangement Agreement”) to be acquired by a wholly-owned subsidiary (the “Purchaser”) of Smith Financial Corporation (“SFC”), a company controlled by Stephen Smith. Under the terms of the Arrangement Agreement, subject to shareholder […]

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RBC buying HSBC Canada for $13.5B Social Sharing

General Angela Calla 30 Nov

Royal Bank of Canada has agreed to buy the Canadian arm of multinational bank HSBC for $13.5 billion in cash. RBC chief executive Dave McKay said the deal offers the opportunity to add a complementary business and client base. “This also positions us as the bank of choice for commercial clients with international needs, newcomers […]

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