Skip to content
Posted 2 Comments on Rates Are On the Up and Up… But For How Much Longer? Bank News

Rates Are On the Up and Up… But For How Much Longer?

You’ve probably seen the headlines: the Bank of Canada has raised their key interest rate. Yet again. And this hike isn’t any less forgiving than the last one. In another unprecedented move (anyone sick of that word yet?) the rate increased by 0.50%, double the normal increase of 0.25%. Yes, it’s a big jump that’s getting a lot of media buzz. But how bad is it really? Is it worth all the alarm? Will rates continue to climb?

Continue reading “Rates Are On the Up and Up… But For How Much Longer?”
Posted Mortgage News

The Tide Turns for the Canadian Housing Market

Just a few months ago, all anyone could talk about was the red hot housing market. Sky high property values. Historically low interest rates. It’s amazing how quickly the conversation can change. As expected, the market has cooled. And while we’re not necessarily in a buyer’s market just yet, things are certainly trending that way. If you’re looking to purchase an additional property, or you’re a first time homebuyer, this could pose an opportunity. 

Continue reading “The Tide Turns for the Canadian Housing Market”
Posted Bank News

The Federal Budget: Here Are the Parts That Could Affect You

The federal government dropped the 2022 budget a couple of weeks ago. Immediately after, articles came pouring out about how it will impact different people, different businesses, different industries. A lot of it is difficult to decipher. Even more difficult is understanding what tangible impact it will have on your day-to-day life. 

That’s why I thought a post like this was important. If you own real estate, are thinking of owning real estate, or you’re in the real estate industry, here are the parts of the budget you should know about.

Continue reading “The Federal Budget: Here Are the Parts That Could Affect You”
Posted Bank News

Bank of Canada Raises Benchmark Interest Rate

Yesterday was Wednesday the 13th – but for some, it might have felt like Friday the 13th. That’s because the Bank of Canada announced they’re upping their rate by a whopping 0.50%. This rate hike means that the prime rate will increase from 2.7% to 3.2%, a fairly sizable jump relative to what we’ve seen in the last couple of years. 

All of this might seem terrifying. But let me assure you: there’s no need to panic. 

Continue reading “Bank of Canada Raises Benchmark Interest Rate”
Posted Mortgage News

Can Canadians Stand Up to a Tougher Stress Test?

Buying a home in Canada just got a lot more stressful. Recently, the OSFI’s stress test has become substantially more challenging to pass – and hardly anyone noticed. The qualifying rate is now as high as 6.00%. If it wasn’t hard enough to purchase a home in Canada, now it’s even harder. And if rates keep going up as they’re predicted to, it’s not going to get any easier.

Continue reading “Can Canadians Stand Up to a Tougher Stress Test?”