News

Central Bank Announcement Last Week

Last week, the Bank of Canada made its third interest rate decision of 2021 and presented projections for inflation and growth in the economy. The announcement came just as Statistics Canada reported that the consumer price index was higher by 2.2% year over year in March and as speculation ramped

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Bank of Canada and Quantitative Easing Update

The Bank of Canada is signaling that it will be the first of the G7 countries to start taking it’s foot off the gas as it will start to slow the pace of the purchasing of Canadian Government Bonds. The Quantitative Easing program key tool used to keep interest rates

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Update on Bank of Canada’s Interest Rate Decision

Last week, the Bank of Canada made its second interest rate decision. The bank held its overnight lending rate, which was largely expected. This is great news for buyers looking to invest in a new home or an investment property. “Bank of Canada will hold current level of policy rate

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What to Expect During the Mortgage Loan Process

You may have heard of Canada’s First-Time Home Buyer Incentive, but did you know that only 2,000 Canadians received it since it was launched? Most opted out of this incentive because it was not an attractive offer for new homebuyers. Instead of taking the incentive, many went through the traditional

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Record-low interest rates on mortgages from Bank of Canada

Canada’s economy had strong momentum through late 2020. However, the increase of COVID-19 cases and the reintroduction of lockdowns caused a serious setback for many. Unemployment has increased nationally, and workers in the service industry have been hit the hardest, due to the latest lockdown measures. So, to help keep

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Last Interest Rate Decision of 2020

2020 has been one of the most active for the Bank of Canada. The Bank of Canada made it’s 10th and final interest rate decision of the year this month. The overnight rate was unchanged, after being reduced three times early in the pandemic, in March. This is good news

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CMHC Criteria Changes

The COVID-19 pandemic is affecting all sectors of Canada’s economy, including housing. Job losses, business closures and a drop in immigration are adversely impacting Canada’s housing markets, and CMHC foresees a 9% to 18% decrease in house prices over the next 12 months. In order to protect future home buyers and

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