Expectations for the first Bank of Canada interest rate hike have moved up to as early as April as inflation concerns grow and supply disruptions persist. Nearly half of Canadian businesses (45%) expect inflation to run hot at more than 3% over the next year, according to the Bank of Canada’s third-quarter Business Outlook Survey released Monday. […]

September sees high prices with minimal supply. The national average home price re-accelerated in September, returning to a level last seen in May, while housing supply continued to trend down. The average selling price in September was $686,650, up 13.9% year-over-year and 3.5% from July’s reading of $663,500. Removing the high-priced markets of the Greater […]

A growing number of lenders have been raising interest rates over the past week in response to rising bond yields, including RBC, BMO and National Bank of Canada. Last week, BMO raised its insured 5-year fixed rate by 20 basis points, bringing it to 2.19%, and hiked its uninsured 5-year fixed by 10 bps to […]

Following a summer slowdown in home sales, activity started to pick up again in the country’s largest cities as the typically busier fall homebuying season kicked off in September. “Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different,” the Toronto Regional Real Estate […]

NATIONAL HOUSING MARKET RISK: HIGH! High home prices and buyer expectations of continued price growth have put the country’s housing market at increased risk of a correction, Canada’s housing agency said on Tuesday. The Canada Mortgage and Housing Corporation (CMHC) raised its national risk level to high from moderate in its third-quarter Housing Market Assessment report. […]

5 Year Fixed Rates Being Lowered Again! RBC Royal Bank became the third Big 6 bank to lower its 5-year fixed mortgage rate over the weekend. The bank dropped its uninsured 5-year fixed rate by 25 basis points to 2.19% The move came days after similar cuts by CIBC and TD Bank last week. On […]

A few possible trends and risks to keep in mind From rising inflation and falling consumer confidence to changing real estate preferences, Canada’s mortgage market impacts from multiple fronts. Ben Rabidoux, a real estate analyst and founder of Edge Realty Analytics, recently participated in a webinar hosted by Mortgage Professionals Canada where he outlined some of the […]

  It’s good to be prepared when dealing with one of the most important purchases of your life. Have the knowledge and understanding to overcome sudden tough financial times     For the majority of mortgage borrowers, missing a single mortgage payment is not a concern. But have you ever wondered what would happen if, […]

  Canadian Job Front still on an Upward Trend! August Employment Report Showed Continuing Recovery This morning, Statistics Canada provided us with some much-needed good news on the economic front following last week’s surprisingly dismal Q2 GDP report. Canada’s labour market continued its recovery in August, especially in the hardest-hit food services and accommodation sectors. […]

Rates remain low for now, but it sounds like it’s not forever! The Bank of Canada delivered a status quo rate decision today, keeping its target rate and bond purchases unchanged. This was expected, in part due to the Bank’s longstanding tradition of keeping a low profile during election campaigns so as to remain apolitical. The […]