Bank of Canada set to announce third consecutive interest rate cut today

Posted On Sep 04, 2024

OTTAWA — The Bank of Canada will announce its interest rate decision this morning as forecasters expect it to deliver another quarter-point rate cut.Encouraged by slowing inflation, the central bank has lowered its policy rate at its last two...

Ontario sets new planning rules intended to boost home building

Posted On Aug 22, 2024

Ontario’s housing minister announced a new set of planning rules Tuesday, which he said will set the stage for a “long-term building boom.” Paul Calandra announced the new Provincial Planning Statement at the Association of Municipalities of...

Preparing for your mortgage renewal: Tips to ease the stress of higher payments

Posted On Aug 14, 2024

Millions of Canadian homeowners are facing mortgage renewals in the coming years, with many feeling stressed as they prepare for higher payments amid persistently elevated interest rates.An estimated 2.2 million mortgages have either come up for...

New mortgage rules kick in today. What is changing?

Posted On Aug 01, 2024

New mortgage rules from the federal government are now in effect.As of Aug. 1, buyers purchasing newly-built homes will now have 30 years to pay off a mortgage instead of 25. The change was announced in April's federal budget as a measure to...

Following Bank of Canada rate cut, Macklem says it’s “reasonable” to expect more

Posted On Jul 25, 2024

In addition to announcing the rate cut, the Bank of Canada also released updated economic forecasts, projecting moderately slower GDP growth in 2024 than previously anticipated.The Bank of Canada delivered a widely anticipated rate cut this morning,...

Upcoming June inflation data could open door to 2nd Bank of Canada rate cut

Posted On Jul 15, 2024

The Bank of Canada will get one final read of inflation figures this week before it has to make its next interest rate decision, with some economists predicting a return to cooling will fuel hopes for another cut.Statistics Canada is set to...