Introduction In recent months, an alarming trend has emerged in Canada’s real estate market. With mortgage payments on the rise, more Canadians are finding themselves under financial strain. According to the latest Equifax Canada credit trends report, rising mortgage delinquency rates have surged dramatically, particularly in Ontario and British Columbia. This post delves into the
Read More
Bank of Canada maintains policy rate on December 6, 2023, continues quantitative tightening Here are the 8 key takeaways: Interest Rates Unchanged: The Bank of Canada maintained the overnight rate at 5%, with the Bank Rate at 5.25% and the deposit rate at 5%. This decision reflects the Bank’s current monetary policy stance. Continuation
Read More
2024 Canada Housing Budget: A Closer Look at New Policies and their Impact In a decisive move aimed at addressing the pressing housing issues in Canada, the federal government unveiled a substantial $52.9 billion in new spending plans in the 2024 federal budget. Given the recent surge of housing-related policy announcements, it comes as no
Read More
Understandably, starting the homebuying journey can be overwhelming and stressful. But with a little planning and the support of trusted partners, you’ll find the home that’s right for you. Below is a step-by-step guide to help you along the journey of buying your first home. Homebuying STEP 1 – Build a Budget Outlining an effective
Read More
In the realm of homeownership and mortgages, the quest for savings amid fluctuating interest rates can feel akin to children eagerly awaiting Santa Claus, only to face disappointment. Such has been the plight of floating-rate mortgage holders who, despite months of anticipation, were met with the Bank of Canada‘s decision on March 6 to hold
Read More
When it comes to buying a home, there are many decisions to be made. Should you buy a fixer-upper or a move-in-ready home? Is it best to buy a condo in the city or a detached home in the suburbs – or something in between? How many bedrooms is best for life right now –
Read More