The Bank of Canada set out its stall for the year ahead in its first interest rate decision of 2024 last week, reaffirming what was already clear: that bringing down inflation remains its number-one priority for the next 12 months. While it held its benchmark policy rate steady in that announcement, the central bank also […]

While the Bank of Canada left interest rates unchanged as expected in its opening decision of 2024, the most noteworthy part of its announcement was the conspicuous lack of reference to possible future rate hikes, according to a top economist. Benjamin Tal (pictured), deputy chief economist at CIBC World Markets, told Canadian Mortgage Professional that […]

Any rate cut decision on the part of the Bank of Canada is not likely to reignite a speculative bounce in home price growth, according to David Rosenberg, founder of independent research firm Rosenberg Research and Associates. Rosenberg said the central bank will have to do a lot more beyond just adjusting the policy rate […]

It goes without saying that Ontario homebuyers could do with catching a break on the home price front, with affordability out of reach for many despite a climbdown in values last year. But is any relief likely to arrive in 2024? The most comprehensive measure of annual average prices across the province dipped by 6.3% […]

As the Bank of Canada gears up to announce its next interest rate decision Wednesday, economists will be on the lookout for any clues on when it plans to start cutting interest rates. Overall, Wednesday shouldn’t bring any big surprises. The central bank is widely expected to continue holding its key interest rate steady at […]

The Bank of Canada is likely to leave its overnight rate unchanged in its first decision of 2024, according to new forward guidance by the Royal Bank of Canada (RBC). The central bank is set to make its opening rate announcement of the year next Wednesday (January 24), with little indication that it will diverge […]

Dropping interest rates on both the fixed and variable fronts are expected to be among the big trends of the year in Canada’s mortgage market, although there’s little consensus as to when both rates will start to fall in earnest – and how far they’ll slide. Fixed rates have already been on the way down […]

Canada’s annual inflation rate rose in December, inching away from the central bank’s 2% target in an increase that had been widely expected by economists. The consumer price index (CPI) jumped by 3.4% last month compared with the same time in 2022, Statistics Canada said on Tuesday, accelerating from 3.1% in November. The national statistics […]

After a year that might charitably be described as an up-and-down one for Canada’s mortgage market, homeowners and buyers alike are hoping for a sunnier outlook in 2024. Rising interest rates helped further squeeze housing affordability for new buyers and pummelled the budgets of many existing owners during the past 12 months, with the Bank […]

For many people, a cottage is a place of tranquility and escape from the fast-paced city life. The warmth and coziness of cottages also create the perfect atmosphere for socializing and making memories with loved ones. Unfortunately, cottages are also getting more expensive to maintain, renovate, and pay property taxes. Those living off their retirement […]