The Liberal government’s latest plan to increase the supply of rental housing involves expanding a program that helps developers secure cheaper mortgage rates. As interest costs rise and impact the feasibility of new projects, the government aims to mitigate these challenges. Yesterday, Finance Minister Chrystia Freeland announced that the federal government is raising the annual …
A recent report by Rates.ca reveals that variable rate mortgage holders in Canada have incurred thousands of dollars in additional interest since the Bank of Canada began raising rates. The report compares the difference between fixed and variable rate mortgages using a hypothetical example of a five-year insured mortgage of $500,000 taken out in July …
Photo: Evelyn Hockstein (Reuters) According to officials at the US Federal Reserve, the rate of average annual inflation is projected to reach 2% by 2026. This comes as the central bank’s monetary policy committee decided to leave interest rates unchanged in September. Quartz Smart Investing with Cameron Dawson, Part 2 Furthermore, the officials updated their …
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 …
Descrease article font size Increase article font size The annual rate of inflation picked up again in August, rising to four per cent, according to Statistics Canada. Economists had largely expected the increase, as gasoline prices pushed inflation higher. Statistics Canada attributed some of the inflation at the pumps to the base-year effect — the …
Prospective homebuyers had “more choice” in Canada’s housing market in August as a rise in new listings met a slowdown in activity, according to the national real estate association. Home sales fell 4.1 per cent between July and August, the Canadian Real Estate Association (CREA) said Friday. Slowdowns in the Greater Vancouver Area, the Fraser …
Statistics Canada revealed that higher interest rates are discouraging borrowing among Canadians, although increases in income are helping to offset the impact of higher debt-servicing costs. According to Statistics Canada, in the second quarter, the ratio of credit market debt to household disposable income decreased to $1.81 from $1.84 in the first quarter of 2023. …
Bank of Canada Governor Tiff Macklem reaffirmed the central bank’s independence and defended its interest rate decisions in response to recent political commentary. Macklem expressed confidence in the Bank of Canada’s ability to fulfill its mandate of controlling inflation, emphasizing that maintaining independence is crucial. The Bank’s decision to hold its benchmark interest rate steady …
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 …