The Liberal government intends to create thousands of jobs by supporting retrofits of homes and buildings and investing in reducing the impact of climate-related disasters, like floods and wildfires, as part of a modest green agenda announced in the speech from the throne today. Indicating a plan to build “a more resilient Canada,” the government […]

OSFI recently announced they are winding down the COVID-19 related relief for deferred mortgage payments. It’s important to note that if you request to defer your mortgage moving forward it may negatively affect your credit. Here are some questions we answered to help you better understand the process. While it’s not ideal, a mortgage deferral […]

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. The Bank is also continuing its quantitative easing (QE) program, with large-scale asset purchases of at least $5 billion per week of Government of […]

A federal financial regulator announced Monday it is winding down COVID-19-related relief for banks offering deferred mortgage payments, a move the watchdog says comes as lenders are in a better spot to start offering “business-as-usual alternatives” again to cash-strapped customers. The Office of the Superintendent of Financial Institutions (OSFI) has allowed federally regulated lenders during […]

Things to consider prior to making a prepayment Paying down your mortgage is a smart step that’s always encouraged. We recommend you first consider the following for your financial well-being as making a lump-sum pre-payment on a mortgage is one sided. Once you’ve made the payment, there are only two ways to get the money […]

Today’s release of July housing data by the Canadian Real Estate Association (CREA) showed a blockbuster July with both sales and new listings hitting their highest levels in 40 years of data. This continues the rebound in housing that began three months ago. National home sales rose 26% month-over-month (m-o-m) in July, which translates to […]

Deputy Prime Minister Chrystia Freeland has taken on a major new role: finance minister. In a physically distant ceremony at Rideau Hall on Tuesday, Freeland removed her face mask briefly to take the oath of office and become the country’s new minister of finance before replacing the mask to bump elbows with both Prime Minister Justin Trudeau […]

Vancouver sales increased 44 per cent on the month and 24 per cent from July 2019. Canadian home sales surged to a record in July as homebuyers emerged from lockdowns. Transactions for existing properties reached 62,355 in the month, up 26 per cent from a month earlier, the Canadian Real Estate Association reported. Benchmark prices […]

Canada’s finance minister resigned on Monday amid friction with Prime Minister Justin Trudeau over spending policies and after coming under fire for his ties to a charity tapped to run a student grant program. Bill Morneau said he would not run for parliament again and would instead seek to become the next secretary general of […]

In an announcement on August 14 the Provincial Government released the full details on the Residential Tenancy Branch’s Repayment Plan framework. This announcement brings with it a significant change to the timing of the end date of the moratorium on ending tenancy for unpaid rent. It was previously announced that this would end when the […]