Homeowner Insurance 101Not all insurance products are created equal. It is important to understand all the different insurance products to ensure you have proper coverage.Below are the main insurance product options you will encounter with homeownership, and what they mean:Default Insurance: This insurance is mandatory...
Will the May Inflation Decline Thwart Another Rate Hike in July? The May inflation data, released this morning by Statistics Canada, bore no surprises. The year-over-year (y/y) inflation measured by the Consumer Price Index (CPI) at 3.4% was just as expected--down a full percentage point from...
The Canadian Real Estate Association says home sales in February bounced 2.3% from the previous month. Homeowners and buyers were comforted by the guidance from the Bank of Canada that it would likely pause rate hikes for the first time in a year. The Canadian...
Here is an update in advance of the Dec 7th meeting of the Bank of Canada, from one of our leading economists. House prices seem to be stabilizing, being maintained by the dropping inventory levels. 20% of Variable rate mortgages have hit the trigger rate,...
The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points today to 3.25% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings...
National Post Comment, August 16, 2022Inflation in Canada has come down a little, but it remains far too high. After rising rapidly to reach 8.1 per cent in June, inflation as measured by the consumer price index (CPI) was 7.6 per cent in July.The good...
I’m finding people just don’t know what to do with choosing a mortgage product after The Bank of Canada raised the prime lending rate by another 1% last week. I’ll try to put some perspective to this and give you some options along with a...
The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will be followed by the US Federal Reserve next month. While the...
Today's budget announced a $10 billion package of proposals intended to reduce the cost of housing in Canada (see box below). The fundamental problem is insufficient supply to meet the demands of a rapidly growing population base. Thanks to the federal government's policy to rapidly increase immigration...
Spring is a great time to consider doing an annual mortgage check-in! Organizing a quick mortgage review each year can help provide peace of mind and ensure you’re on-track your future goals, while still ensuring you’re able to manage the monthly payments. With interest rates on the...