While we are all still feeling the pressures of inflation, there is finally some relief in sight. Interest rate hikes are slowing down for Prime Rate and the best part is that fixed rates have come down from their highs. With that in mind, we want to ensure all our clients are able to get […]

As expected, the Bank of Canada raised the overnight lending rates by 0.25%. This means your monthly payments will increase by approx. $13 per $100,000 on a most variable rate mortgage and/or line of credit, with the exception of if you have a static payment, then the amortization increases. While it is an increase, we have had a slowdown in […]

No Surprises Here: The Bank of Canada Hiked Rates By Only 25 BPS, Signalling a Pause As expected, the Bank of Canada–satisfied with the sharp decline in recent inflation pressure–raised the policy rate by only 25 bps to 4.5%. Forecasting that inflation will return to roughly 3.0% later this year and to the target of […]

OSFI Is At It Again Late last week, the Office of the Superintendent for Financial Institutions (OSFI) announced it was concerned about the risks associated with the large and rising number of highly indebted borrowers, especially those with floating-rate mortgages, which stands at a record proportion of outstanding mortgage loans.  With the economy in danger […]

Good News On The Inflation Front In December The Consumer Price Index (CPI) rose 6.3% year over year in December, down from the 6.8% pace in November. Much of the decline was owing to the drop in gasoline prices. Additional deceleration came from homeowners’ replacement costs, fuel oil and other owned accommodation expenses, and various durable […]

December Housing Data Ended 2022 on a Weak Note Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were up month-over-month in December while new listings plummeted and national home prices fell again.  Home sales recorded over Canadian MLS® Systems increased 1.3% between November and December 2022. Ottawa and Edmonton […]

‘Tis the season for 2023 housing market predictions in Canada. This year, most economists predict Canada will enter a recession in the first quarter of 2023. Because of this, planning to buy or sell a home can be a challenge. In addition, economic downturns often lead to higher unemployment rates, decreased property values, and less confidence […]

The holidays are a season of giving and often times, households can often find themselves carrying some extra debt as we enter the New Year. If you happen to be someone currently struggling with some post-holiday debt, that’s okay! Whether you’ve accumulated multiple points of debt from credit cards or are dealing with other loans (such […]

When traditional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it is important to remember that there is always an alternative! If you’re seeking a mortgage, but your application doesn’t fit into the box of the big traditional institutions, you’ll find yourself in what’s commonly […]

What a year this has been. In the face of red-hot inflation, the Bank of Canada raised its policy rate by a whopping 400 basis points to 4.25%. First to cool was the housing market, where buyers moved to the sidelines and mortgage rates surged. Home prices fell, especially in Toronto and Vancouver. The economy appears […]