Bank of Canada holds key rate, but signals June cut in ‘realm of possibilities’

Bank of Canada holds key rate, but signals June cut in ‘realm of possibilities’ Economist believes it will take a series of rate cuts before many are ready to take the plunge Craig Lord  Global News Published: April 10, 2024 The Bank of Canada held its benchmark interest rate steady on Wednesday amid signs that inflation is easing, with officials acknowledging that…

Mortgage interest still driving inflation, as overall rate nudges up to 2.9%

Mortgage interest still driving inflation, as overall rate nudges up to 2.9% Year-over-year inflation is up slightly but dropped when excluding gasoline prices Anis Heydari · CBC News Published: April 16, 2024 Canada’s inflation rate went up slightly in March compared to February, with Statistics Canada pointing out gasoline prices are partly behind the increase. The federal agency’s…

Canada to allow 30-year amortization for first-time buyers’ mortgages on new homes

Canada to allow 30-year amortization for first-time buyers’ mortgages on new homes Toronto Sun  Published: April 11, 2024 TORONTO — The federal government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes. Finance Minister Chrystia Freeland made the announcement in Toronto on Thursday, saying it will take effect Aug.…

Posthaste: 3.4 million Canadians will renew their mortgages by 2025 — and they’re worried

Posthaste: 3.4 million Canadians will renew their mortgages by 2025 — and they’re worried Royal LePage survey finds many looking at a variety of cost-cutting tactics Gigi Suhanic Published Oct 26, 2023 Many Canadian households will be grappling with higher payments as their mortgages come up for renewal.  The days of “rock-bottom rates” are over…