From the surging demand in real estate due to ultra-low interest rates to the sudden rise in interest rates not seen in a generation, staying updated on the ever-changing mortgage landscape has been challenging. Now, with interest rates expected to remain high for an extended period, homeowners who secured low rates in previous years are …
Stubborn inflation may not necessitate another interest rate hike, but it could result in the Bank of Canada maintaining its policy rate at a higher level for a longer duration, as indicated by new forecasts released this week. An updated economic outlook from Deloitte Canada, published on Thursday, reveals a more challenging path for gross …
The Bank of Canada Remains Cautious in Rate Decision Amid Concerns of Misinterpretation The Bank of Canada recently released documents revealing their cautious approach to communicating their latest policy rate decision. The bank’s governing council was concerned about potential misinterpretation that might suggest the bank was finished raising interest rates or that rates would soon …
The Bank of Canada’s Inflation Target in Sight, but Additional Rate Hikes May Be Needed The head of the Bank of Canada, Tiff Macklem, addressed the Calgary Chamber of Commerce on Thursday, stating that the central bank’s goal of achieving a two per cent inflation rate is “now in sight.” However, he cautioned that persistent …
According to a new survey released by Re/Max Canada on Tuesday, Canada’s housing market could experience a slowdown this fall as potential buyers and sellers wait to see what the Bank of Canada does with interest rates. The report suggests that home prices will remain stagnant from August until the end of the year due …
Two Premiers Urge Bank of Canada to Halt Interest Rate Hikes Ontario Premier Doug Ford and British Columbia Premier David Eby have both sent letters to Bank of Canada Governor Tiff Macklem, urging the central bank to halt interest rate hikes leading up to its next rate decision on Wednesday. Premier Ford expressed concern over …
As interest rates continue to rise, many individual buyers are being priced out of Canada’s housing market. In response to this, brokerage firm Royal LePage has released a report indicating that Canadians are increasingly turning to family and friends to afford a home. The report, based on an online survey conducted by Leger in August, …
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 …
As the summer heat settles in Canada, cottages are becoming more affordable, but rising inflation and interest rates are putting a damper on the plans of first-time buyers, according to real estate experts. With the Bank of Canada recently raising its key interest rate and the possibility of future hikes, it’s worth considering whether now …
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 …