BOC Hold Rates, High Inflation Will Be Temporary
June 30, 2021 - The Bank of Canada’s Wednesday rate announcement was “steady as she goes,” as it maintained its Quantitative Easing program and reiterated that rates should stay where they are until the second half of next year.
The overnight...
WHAT IS THE STRESS TEST?
June 14, 2021 - In an attempt to slow down the housing market, the government has implemented an increase the stress testas of June 1, 2021.Here is a breakdown of what that means.What is the stress test?A couple of years ago the government introduced the...
Bank of Canada holds rate, expecting strong rebound this summer
June 09, 2021 - The central bank reiterated its guidance that rates would remain unchanged until at least the second half of 2022.Weaker-than-expected economic growth and hotter-than-normal inflation don’t seem to be overly bothering Bank of Canada...
What home buyers should know about the Canadian mortgage stress test
June 04, 2021 - In late 2017, the federal government introduced a mortgage stress test for anyone applying for or renewing a home loan. But, if you’re like nearly half of Canadians polled by TD Bank in 2019, you may not understand what the test...
Insured and Uninsured Mortgage Stress Test Changes Confirmed for June 1
May 21, 2021 - Starting June 1, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.
The Office of the Superintendent of Financial Institutions (OSFI) confirmed on Thursday that it...
Sagen Overtakes CMHC as Canada's Largest Mortgage Default Insurer
May 08, 2021 - The Canada Mortgage and Housing Corporation (CMHC) has reportedly lost its title as Canada’s largest provider of mortgage default insurance.
The national housing agency’s total market share has slipped to just under 30%, according to...
Bank of Canada offers fresh hints that interest rates will rise next year as economy surges
April 23, 2021 - A reassurance from the Bank of Canada that "interest rates will be low for a long time," as the bank's governor, Tiff Macklem, told us last year, appears to have been revised.
New signs of a strong recovery — including the bank's...
Canada's mortgage rates edging higher in first rise since before COVID-19 crisis
March 04, 2021 - Canadian mortgage rates are beginning to inch higher for the first time since before the COVID-19 crisis, reflecting the spike in long-term bond yields, but with home loans still languishing around historically low levels the modest hike...
Bank of Canada maintains interest rate: Read the official statement
December 09, 2020 - Here’s the official statement from the Bank of Canada’s interest rate decision on Wednesday, Dec. 9, 2020:
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of 0.25 per cent, with the...
The Importance of Mortgage Pre-Approval
November 20, 2020 - Looking at homes is exciting but before you get carried away, it’s important to sort out your financing as it can save you thousands of dollars and provide you with valuable peace of mind.
Getting pre-approved is easy! A mortgage lender...