Changes to the BoC rate impacts the prime rate set by Canadian lenders, which in turn affects the pricing of variable-based borrowing products, which are based on the…
Read more Making sense of the Bank of Canada interest rate decision on October 23, 2024 – MoneySenseA total of three rate cuts passed down from the Bank of Canada since June have cumulatively lowered the cost of borrowing for Canadians by 75 basis points,…
Read more Why are mortgages so expensive in Canada? – MoneySenseFor those in that position, as well as those whose mortgages expire in the next 12 months, it’s best to go into the renewal process armed with knowledge…
Read more Renewing your mortgage? A guide for Canadians – MoneySenseIn the company’s fall economic outlook released Thursday, it forecasts the central bank’s interest rate will fall to 3.75% by the end of this year and a neutral…
Read more Deloitte Canada predicts more economic growth, benchmark rate below 3% in 2025 – MoneySenseAre more rate cuts likely? In announcing the rate cut Wednesday, Bank of Canada governor Tiff Macklem said if inflation continues to ease broadly in line with the…
Read more Variable mortgage rates regaining traction as Bank of Canada cuts rates – MoneySenseWhat does the rate cut mean? The immediate impact of today’s rate cut will be interest rate relief for Canadians. As a result of today’s rate cut, most…
Read more Making sense of the Bank of Canada interest rate decision on September 4, 2024 – MoneySenseBond yields have a “positive correlation” with fixed mortgage rates. That means when bond yields go up, so do fixed-rate mortgages, and vice versa. And since Canadian five-year…
Read more The after-effect of market lows: a drop in fixed mortgage rates – MoneySenseWhat is the Bank of Canada’s interest rate? This latest decrease brings the central bank’s rate—which sets the benchmark for Canada’s prime rate and variable-rate borrowing products—to 4.5%.…
Read more Making sense of the Bank of Canada interest rate decision on July 24, 2024 – MoneySenseBefore locking into a familial loan, both parties must assess whether they are on the same page and are in a position to take on this type of…
Read more 6 things to consider before borrowing from the Bank of Mom and Dad for your first home – MoneySenseWhat to see the difference in a 25-year versus 30 year mortgage? Tap the filter icon on the far right to expand the data fields. Change the amortization…
Read more Should you get a 30-year mortgage? – MoneySenseWhether or not a variable-rate mortgage is a good option for you depends largely on market fluctuations. Rates for this type of mortgage are typically lower than those…
Read more 3-year versus 5-year mortgage: How to choose your term – MoneySenseBut if you have some flexibility around where to live, there are cities and neighbourhoods in Canada where homes can be had for less than seven figures—lots of…
Read more Where to buy a home for under $1 million in Canada – MoneySenseThe housing supply issue is improving It comes after some of Canada’s largest cities have seen ballooning home listings in recent months from droves of sellers listing their…
Read more Rates are going down—is now a good time to buy a house in Canada? – MoneySenseFor most Canadians, using a broker is the wisest choice to save money, as they have access to a wider selection of products and should have more experience…
Read more Mortgage broker vs. bank—which will save you more money? – MoneySenseFredericton: Home prices poised to rise with rate cuts Fredericton marks the third and final city where the additional required income to purchase a home remains below $1,000.…
Read more How much income do I need to qualify for a mortgage in Canada? – MoneySenseBetween December and January, the benchmark home prices in Port Coquitlam and Coquitlam increased by about 3% and 2%, respectively. In Port Moody, the benchmark home price dipped…
Read more Best places to buy real estate in Metro Vancouver – MoneySenseThat’s according to the central bank’s summary of deliberations detailing the discussions governing council members had in the lead-up to the March 6 interest rate announcement. What did…
Read more BoC expects to cut rates this year, governing council split on timing: deliberations – MoneySenseFollowing a painful year for the housing market that saw mortgage rates shoot up to just over 8% after years of historically low rates, monthly mortgage payments have…
Read more There’s a flicker of life in the housing market as average mortgage payments plummet nearly $400 over 2 months and buyers start to stir again, Redfin saysHow do interest rates relate to affordability? In an effort to subdue runaway inflation, the Bank of Canada (BoC) has raised the benchmark interest rate several times over…
Read more What does the new Canadian Mortgage Charter mean for home owners? – MoneySenseI don’t expect real estate prices to rise at the same 6.75% rate we have seen over the past 10 years, so instead, let’s say prices rise at…
Read more Renting vs. owning: Can you be financially secure without buying a home? – MoneySense
