A Super-Sized Rate Hike, Signalling More To Come  The Governing Council of the Bank of Canada raised its target for the overnight policy rate by a full percentage point to 2-1/2%. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure on longer-term […]

Bank of Canada increases its benchmark interest rate to 2.50% Today, the Bank of Canada increased its overnight benchmark interest rate 100 basis points to 2.50% from 1.50% in June – the largest single increase in almost 25 years. This is also the fourth time this year that the Bank has acted to tighten money […]

The Bank of Canada increases the overnight lending rate by 1% today. The largest increase in over 20 years. It is expected that banks, credit unions and monolines will increase their prime rate over the following weeks. This will increase the cost of variable rate (VRM) and adjustable rate (VRM) mortgages as well as home […]

There’s something magical about summer and no matter where you live in Canada, summer is the perfect opportunity to spend a little time with family and friends. Nothing says party vibes more than food on the grill and summer drinks flowing. Whether you live in a country house, a suburban townhome or a city condo, […]

Building a new home is an exciting adventure but requires very different considerations. To help you have the best experience, here are 5 of the most important things to consider:  It’s All In The Numbers: Whether you are shopping for a pre-built home, or are looking to create your own from the ground up, it […]

With recent Bank of Canada interest rate hikes, and more on the way, here is what you need to know about how these policy changes affect your mortgage. First and foremost, the interest rate hikes directly affect individuals that currently have an adjustable-rate mortgage. Depending on your mortgage amount, you’re looking at a potential mortgage […]

Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) announced today that it has completed the acquisition of HOMEQ Corporation (“HomeQ”), the parent company of HomeEquity Bank, from Birch Hill Equity Partners Management Inc. (“Birch Hill”) and the other minority shareholders of HomeQ, in a deal that was first announced in September 2021. The acquisition by Ontario […]

Recently, our segment on the Marc & Mandy show aired in which we discussed the top five tips for mortgage renewals. To put it succinctly, the tips you should follow are as listed: Plan your mortgage renewal four months in advance Understand the difference between fixed and variable rate mortgages Consolidate your debt Assess and […]

Today, the Office of the Superintendent of Financial Institutions (OSFI) released a new Advisory (Clarification on the Treatment of Innovative Real Estate Secured Lending Products under Guideline B-20). The Advisory complements existing expectations under Guideline B-20, which articulates OSFI’s expectations regarding underwriting practices and procedures for reverse residential mortgages, residential mortgages with shared equity features and combined loan […]

Recently, Angela was interviewed on the Vancouver Consumer, hosted on CKNW 980, to talk about the current real estate market. In this 30-minute interview, Angela covers the recent rise in interest rates, why it is happening, what we can expect in the future, and what you can do to prepare yourselves to be in the […]