The Bank of Canada has signalled a potential shift in its monetary policy stance, with officials suggesting that rate cuts are likely to happen this year if economic trends align with their projections. During their March 6 meeting, the central bank’s six-member governing chose to keep the policy rate at 5% and said it is […]

The Canadian Real Estate Association announced today that national home sales dipped 3.1% m/m in February while home prices were flat, ending a five-month price decline that began last fall. It was noteworthy that prices remained unchanged from January to February, given that they dropped 1.3 from December to January. The MLS Home Price Index […]

Canada Mortgage and Housing Corporation (CMHC) has reported an increase in the pace of home construction across the country. According to new data from the federal crown corporation, housing starts in February were up 14% from the month earlier, reaching 253,468 on a seasonally adjusted annual rate. The February total also marks an 11% increase […]

While a drop in interest rates is expected to present a boost to the Canadian commercial mortgage market this year, borrowers should realize rates are unlikely to dip dramatically in the coming months, according to a top broker in the space. Peter Quinn, director at Multi-Prêts Hypothèques in Quebec, told Canadian Mortgage Professional that a […]

New data has unveiled the Canadian areas witnessing the most significant surges in house prices from January 2023 to January 2024, with Bancroft, Ontario leading the pack. According to real estate experts at calgaryhomes.ca, which scrutinized house sales data from The Canadian Real Estate Association (CREA), Bancroft emerged as the frontrunner, with an average price […]

Optimism has swelled in Canada’s housing and mortgage markets about the prospect of imminent interest rate cuts by the central bank – but the need for patience was the main takeaway from its latest announcement, according to a leading bank economist. Doug Porter, chief economist at Bank of Montreal (BMO), told Canadian Mortgage Professional that […]

The Bank of Canada made no reference to the national housing market in its latest statement on interest rates – but will the central bank have been concerned by news of a sizeable uptick in market activity at the beginning of the year? Data released by the Canadian Real Estate Association (CREA) in mid-February showed […]

The Bank of Canada gave no indication in its March announcement that interest rates are set to fall soon – but the central bank is still likely to cut in June, according to CIBC deputy chief economist Benjamin Tal (pictured). Yesterday’s statement saw the Bank maintain its benchmark rate at 5.0%, the fifth decision in […]

The focus of the Bank of Canada is on slaying the inflation dragon. The good news is that the year has started with a marked decline in price pressures. Due to falling energy prices, airline fares and a deceleration in clothing and food, year-over-year inflation in January dipped to 2.9%. This follows 3.4% inflation in […]

One of the important factors in home ownership is understanding things like your credit score.  Some people don’t pay much attention to this metric until they begin the mortgage discussion! However, you will find that your credit score is one of the most important factors when it comes to qualifying for a mortgage at the […]