What the Bank of Canada rate cut means for mortgages, consumer loans and investments Published Wednesday, June 5, 2024 3:05PM EDT The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75 per cent, the first cut in more than four years. Here’s what it could mean…
Mortgage debt is growing at its slowest pace in 23 years — but that could be short-lived, says CMHC Higher home sales and prices forecast in the coming years May 29, 2024 4:22 PM Mortgage debt grew at its slowest pace in 23 years in February, amid high borrowing costs and reservations related to the…
Canadian home sales fell 1.7% in April, CREA data shows ReutersWed, May 15, 2024 at 9:07 a.m. EDT OTTAWA (Reuters) – Canadian home sales declined 1.7% in April from March, and were up 10.1% on an annual basis, data from the Canadian Real Estate Association (CREA) showed on Wednesday. The industry group’s Home Price Index…
The ‘Bank of Mom and Dad’ is no longer just for down payments Parents have moved beyond helping their children with a down payment, with high home prices and interest rates forcing them to co-sign on mortgages themselves. GIRENE GALEA AND ERICA ALINIPUBLISHED OCTOBER 29, 2023UPDATED OCTOBER 30, 2023 Parents have moved beyond helping their…
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…
The market might be headed for a hard landing These defensive strategies could protect your portfolio Lawrence Ullman is the chief executive of Ullman Wealth Management Inc., which provides private capital-management services to high-net-worth individuals, endowments, charities and foundations. This year’s market rally has caught many investors off guard. This was supposed to be the…
Canadian luxury housing market enjoys continued demand, confidence “Hyperlocal influences” dominated luxury market dynamics in Canada’s largest cities Consumer demand and confidence in the Canadian luxury real estate market have remained robust despite the sharp rise in interest rates and lingering economic uncertainty, according to an analysis by Sotheby’s International Realty Canada. The report noted…
Markets across Canada experience spring surge Canada’s major housing markets appear to be shifting direction this spring. After a few months of sluggishness, early results from boards indicate that activity has picked up significantly in most markets, and prices have ticked higher. “There were hints for some time the cyclical bottom would be reached this…
Canadian Home Sales Rebound 57% from April, But Still Down Sharply vs. 2019 After the steepest decline on record in April, Canadian home sales posted a 56.9% rebound in May, while the number of new listings surged 69%. While the resurgence in activity suggests April was likely a bottom for the COVID-19-induced housing decline, there’s…
RBC widens mortgage lead just as Canada’s housing market shows signs of a revival Domestic mortgage book grew 8.6 per cent in the fiscal first quarter, the biggest year-over-year jump in more than a decade Royal Bank of Canada has widened its lead in mortgages against rival lenders as the nation’s housing market shows signs…
