Variable rate mortgages getting all the love… As of June 2022, we are currently seeing unnatural discrepancies in the size of mortgage loans borrowers will qualify for, and it’s all because of a rift in the space-time stress test continuum. You see, most 5-year fixed mortgage rates are already over 5%, making their stress test a full […]

For many Canadians who are looking to retire but currently facing high debt load and ongoing expenses, as well as reduced income, it can be a challenge. This is where the reverse mortgage can help! This product is also a great option for anyone wanting to assist their elderly parents. Instead of selling the home […]

For the first time in 2 years, the real estate market is cooling, which means occasionally houses may appraise for less than the agreed purchase price. Then what? For the past two years, appraisal valuations have rarely fallen short. Instead, we routinely saw appraisals coming back at the purchase price—and often higher—due to the national […]

Canadian March Home Sales Posted Their Biggest Decline Since June Statistics released today by the Canadian Real Estate Association (CREA) show that rising interest rates were already dampening housing activity well before the Bank of Canada’s jumbo spike in the key policy rate in mid-April. National home sales fell back by 5.4% on a month-over-month […]

High Prices and little spaces is what’s in store for Canada’s urban centres. Younger Canadians wanting to live in Canada’s urban centres are going to have to get used to settling for smaller living spaces. In other words, we’re witnessing the “Manhattanization” of our cities, according to Peter Routledge, head of the Office of the […]

Bank Will Hike Rates At Next Meeting While markets were 70% certain the Bank would hike their overnight target rate today, we remained of the view that the Governing Council would hold off until March or April because of the slowdown in first-quarter growth arising from the Omicron restrictions. The Bank announced today that economic […]

GET PRE-APPROVED!!! Over the past month, we have seen several fixed mortgage rate hikes from the banks and other lenders. Whereas rates below 2% were readily available one month ago for most uninsured 5-year fixed mortgages, the average is now around 2.79% at most banks. We all suspected rates would rise eventually, but this is happening much […]

Hawkish Bank of Canada Decision. Bank of Canada Responds To Mounting Inflation: Ends QE and Hastens Timing of Rate Hike The Bank of Canada surprised markets today with a more hawkish stance on inflation and the economy. The Bank released its widely anticipated October Monetary Policy Report (MPR) in which its key messages were: The […]

Rate Hike Expectations still Growing. With inflation well above the Bank of Canada’s target level and ongoing supply chain issues, expectations of earlier-than-expected interest rate hikes in 2022 are growing. For much of the past year, the Bank of Canada had assured markets that interest rate hikes were off the table for at least the […]

Inflation Rises are no longer just talk, they are here. Prices are Rising Everywhere–Transitory Can Last A Long Time Today’s release of the September Consumer Price Index (CPI) for Canada showed year-over-year (y/y) inflation rising from 4.1% in August to 4.4%, its highest level since February 2003. Excluding gasoline, the CPI rose 3.5% y/y last […]