Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Making sense of the markets this week: September 24, 2023 + MORE Sep 23rd
Allan Small, Senior Investment Advisor at the Allan Small Financial Group with iA Private Wealth, shares financial headlines and offers context for Canadian investors.
No surprise: Canada’s inflation rate ticked up in August
Canada’s annual inflation rate jumped to 4% in August, up from 3..... More »
Mortgage Digest: 50% odds of a 50-bps October rate cut, experts say + MORE Oct 4th
A weekly review of the latest mortgage and real estate news, a recap of key headlines, and a preview of upcoming economic releases..... More »
Reverse mortgages are on the rise, but are they the right choice? Feb 21st
The number of reverse mortgages has surged recently. Experts caution it’s worth exploring all other options first, like lines of credit and downsizing..... More »
Should you get a 30-year mortgage? + MORE Jul 8th
Signing a 30-year mortgage in Canada can be an attractive option for some home buyers in the face of relentless real estate prices and historically high interest rates. Specifically first-time home buyers and those now renewing their mortgages.
While prices in Toronto have fallen slightly, with .... More »
Interest Rates to Stay As-is for Now. But When Will They Rise Again?
– canadamortgagenews.ca
The Bank of Canada governor, Till Macklem, made no change to interest rates on April 21st, the 3rd of 8 annual meetings dates. This comes as no surprise, though, There wasn’t a chance of an interest rate hike anyway. You can read more on this here .
When Might We See Interest Rates Rise?
The governor publicly stated in October 2020 that interest rates would remain as is until we get out of the covid crisis. He did hint that we could see the economy improve enough in late 2022 enough so that he may increase the interest rates then.
Many economists believe this is very possible. However, many also think this may not last long given how fragile the economic recovery will be. We’ve seen the Bank of Canada rush to raise rates in the past only to backtrack and reverse that decision.
With record high home prices and equally as high average mortgage balances, the governor will need to be very careful not to push too hard too fast or we could see a domino effect…
