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...

One in four Canadian renters plans to buy a home despite financial hurdles, Royal LePage finds

Posted On Jul 03, 2024

More than a quarter of Canadian renters plan to purchase a home within the next two years, driven by a strong desire for homeownership despite significant financial barriers and a highly competitive, supply-constrained market.According to a recent...

High risk or high reward: Rising mortgage debt service ratios are must-watch data.

Posted On Jul 01, 2024

Mortgage leverage is like an obsidian blade: a precision tool when used right but a nasty injury-maker when used wrong. The median debt service ratio skyrocketed to an all-time high last year, according to the Bank of Canada. This makes you wonder...

Bank of Canada's next move less certain after inflation rate ticks higher in May.

Posted On Jun 26, 2024

OTTAWA - The annual inflation rate unexpectedly ticked higher in May, raising doubts about what the Bank of Canada will do when it makes its next interest rate decision in July in "bumpy and choppy" conditions.Statistics Canada said Tuesday the...