Mortgages Are “Lowest in History”—But Can They Go Lower?
Since the start of the COVID-19 pandemic in Canada, Canadian mortgage rates are at an all-time low. Many homebuyers are now faced with the age old question: to buy or not to buy? For many Canadians, especially first-time homebuyers, this may seem like the perfect time...
Stress Test Changes Make Mortgage Qualifications Easier
We’ve been hearing a lot of news lately that have made it a bit easier for Canadians to qualify for a mortgage, just in time for the spring market.
Summer Mortgage news
We’re halfway through the summer months and mortgages may not be on the top of your mind these days, but there has been some Summer Mortgage News. Bank of Canada governor, Stephen Poloz, recently announced an increase in the bank’s benchmark interest rate from 1.25%...
Bank of Canada overnight rate now at 1.5%
As we predicted in June, the Bank of Canada announced last week that they’re raising their overnight rate to 1.50%, up 1/4 of a percentage point from the previous 1.25% and the highest it’s been in almost a decade. The Bank predicts that the global economy will grow...