Did you know? March is Fraud Awareness Month. Protecting yourself and your mortgage from fraud is crucial to safeguard your financial well-being. Understanding some of the more common mortgage fraud scams and how to protect yourself can make all the difference! The most common type of mortgage fraud involves a criminal obtaining a property, and […]

The Bank of Canada has left its benchmark rate unchanged in its latest decision, keeping rates where they are for the fifth time in a row. The central bank said on Wednesday morning that it was maintaining its overnight rate, which leads variable mortgage rates in Canada, at its current level of 5.0%. That means […]

Several economists are expecting the Bank of Canada to hold interest rates in its upcoming announcement following the weakening economic conditions, according to The Canadian Press. Many believe that the central bank will be keeping its key interest rate at 5%, with a first rate cut set to arrive around June, as the economy slows […]

The federal government has discontinued the First-Time Home Buyer Incentive, a much-criticized program aimed at improving housing affordability for new buyers that saw muted uptake in major markets. Canada Mortgage and Housing Corporation (CMHC), the national housing agency, said in a statement on its website that the program was winding up, with no new or […]

Experts anticipate a rise in Canada’s home prices this year, with expectations of further increases in 2025, according to Reuters. This prediction comes amid continuous strong demand for housing and a notable lack of new supply, coupled with the likelihood of interest rate cuts later in 2024. The surge in Canadian home prices by over […]

All eyes in the mortgage world will be on the Bank of Canada next week as the central bank reveals its much-anticipated decision on interest rates – but those holding out hope for a rate cut are likely to be left disappointed. The Bank is widely expected to begin trimming its benchmark rate this year […]

Canada’s housing market has seen an unexpected uptick in home sales, presenting a new challenge to the Bank of Canada’s efforts to curb inflation, according to insights from a leading economist. Scotiabank senior economist Farah Omran shared her surprise over the recent surge in home sales during an interview with BNN Bloomberg—an increase that began […]

Canada’s inflation rate for January eased to 2.9%, a drop beyond economists’ expectations, potentially paving the way for the Bank of Canada (BoC) to consider rate cuts as soon as June. Economists have analyzed the latest figures and shared their insights. According to Olivia Cross, a North America analyst at Capital Economics, the BoC will […]

The Consumer Price Index (CPI) rose 2.9% year-over-year in January, down sharply from December’s 3.4% reading. The most significant contributor to the deceleration was a 4% decline in y/y gasoline prices, compared to a 1.4% rise the month before (see chart below). Excluding gasoline, headline CPI slowed to 3.2% y/y, down from 3.5% in December. […]

Canada’s inflation rate slowed by more than expected in January, with the consumer price index (CPI) rising at an annual pace of 2.9% last month and ticking downwards from December. New data released by Statistics Canada on Tuesday showed that annual price growth came in lower than the 3.3% expected by economists in a Bloomberg […]