As expected, the Bank of Canada has raised its prime rate by 0.75%. What this means is that your monthly payments will increase by approx. $42 per $100,000 on your mortgage if you are on a variable rate mortgage. Here is the Bank of Canada statement. What this translates to is a prime rate held by most banks of 5.45%. As always, fixed-rate […]

As we move into the Fall market, there are some important things you should be aware of. While inflation has now likely peaked, we will still be dealing with the repercussions from these heightened levels for a while before things balance out. As inflation is corrected, we are also seeing home prices moving back to […]

When it comes to backing out of a real estate deal, the law doesn’t tend to side with the dealbreaker, says Ron Butler, a veteran mortgage broker and one of the founders of Butler Mortgage in Toronto. If you’re the buyer, “You should find a way to complete the sale—beg, borrow, do whatever you need […]

After fuelling Canada’s economy through the COVID-19 pandemic, the real estate market is showing signs of weakness as home prices fall and bidding wars dissipate. It’s welcome news for prospective buyers hoping for a better price. But as the busy fall season nears, realtors and economists are at odds over how long the pricing slide will last and how low it will go. […]

You have likely heard – or will soon be hearing – a lot of talk about “trigger rates” and “trigger points”. More importantly, we are here to guide you as you will hear these terms along with more changes in the Bank of Canada rate. Let’s start with a few definitions: Variable Rate Mortgage (VRM) […]

The Bank of Canada has raised interest rates by 2.25 per cent since March. While many homeowners expected rates to rise, no one expected things to go up so quickly. These increases have a major impact on variable-rate mortgage holders since their lender’s prime rate will often increase in step with the central bank’s rate. That means […]

Who makes more money on Real Estate than developers? We have all heard how developers are greedy, but ever wonder who makes the most money on a real estate development?  Local, provincial and federal governments, that’s who! According to CMHC, fees and charges account for 20% of the price of a new condo apartment.  Want […]

Most Canadians dream of owning a beautiful home where they can raise their family and watch them grow. As our families get wonderful little additions or grow into a bigger space, many of us want to learn how to move up the property ladder. With the cost of everything rising and additional costs we accumulate as our […]

Macklem’s Op-Ed (emphasis is mine) Inflation in Canada has come down a little, but it remains far too high. After rising rapidly to reach 8.1 per cent in June, inflation as measured by the consumer price index (CPI) was 7.6 per cent in July. The good news is that it looks like inflation may have […]

Gasoline Prices Dipped, But No Time To Celebrate While we are all grateful that gasoline prices declined from record highs in July, today’s release of the July inflation data shows that the underlying inflation momentum remains too strong for comfort. Governor Macklem will likely continue to hike the policy rate aggressively when they next announce […]