Experts predict that the Bank of Canada will rely on a significant economic slowdown this fall to prevent inflation from rising further. The central bank has made progress in reducing headline inflation, with economists estimating that the consumer price index report from Statistics Canada will show a 2.9% annual inflation rate, down from 8.1% last …
Written By Staff Source: The Canadian Press Posted on July 28, 2023 at 6:31 am Decrease article font size Increase article font size Statistics Canada is preparing to release its latest economic report for May, along with a preliminary overview of the second quarter. The early estimate from the federal agency shows a 0.4% growth …
As the Bank of Canada raises interest rates, borrowers are feeling the pinch. Traditionally, higher interest rates are expected to result in better savings rates. However, experts say that the relationship between borrowing costs and savings rates is not always straightforward. Consumers must be nimble and proactive to take advantage of competition in the banking …
The policymakers of the Bank of Canada have stated that they are willing to raise their benchmark interest rate further, despite already reaching its highest level in 22 years. This decision was made earlier this month, when the policy rate was increased by 25 basis points to 5.0 percent. The central bank recently released the …
According to a recent report from Re/Max Canada, the surge in housing activity in the first half of the year was driven by buyers looking to upsize their homes, taking advantage of a period of stability in interest rates. This surge came after a housing correction that hit its “trough” in January when the Bank …
This article is part of Global News’ Home School series, an informative resource for Canadians on the housing market. Finding your dream home can be a challenging process, but crafting a convincing bid doesn’t have to be. In this article, we’ll explore how to create a bid that sellers won’t ignore, covering everything from bid …
Decrease article font size Increase article font size In June, the housing market in Canada experienced a slowdown due to the Bank of Canada’s interest rate hikes and an increase in new listings, according to the Canadian Real Estate Association. Compared to April, home sales only saw a 1.5% increase in June, with gains in …
Decrease article font size Increase article font size The Bank of Canada has raised its benchmark interest rate by another 25 basis points, reaching levels not seen since 2001 due to concerns that the decline in inflation “could stall.” The central bank’s key interest rate now stands at 5.0 percent following consecutive hikes. Several economists, …
Extending amortizations is a common method used by lenders to provide relief for Canadian homeowners struggling with mortgage payments due to higher interest rates. However, experts and regulators are cautioning that this strategy can have hidden costs and risks for consumers. Initially, amortizations for insured mortgages are limited to 25 years in Canada, but they …
Decrease article font size Increase article font size Canada’s unemployment rate increased to 5.4% in June despite continued hiring by employers, as reported by Statistics Canada. The agency announced that Canada added 60,000 jobs, including 110,000 full-time positions, last month, the largest employment increase since January. However, the unemployment rate rose due to an increase …