Inflation holds steady at 1.7% in May Jun 26th
For many homeowners 55+, the goal is no longer downsizing, but aging in place + MORE Jul 23rd
EQB mortgage book grows as credit recovery pushed into 2027 Jun 2nd
Many mortgage holders have little room for higher payments: MPC + MORE Jun 26th
Fixed-rate borrowers face up to 20% payment hikes at renewal, BoC warns Jul 23rd
TMG taps next generation of leaders as it marks 35 years in business
– canadianmortgagetrends.com
TMG The Mortgage Group is undergoing a series of leadership changes as it continues to focus on innovation and championing the brokerage channel.Does buying GICs still make sense after the recent rate cuts?
– moneysense.ca
In March, the Bank of Canada (BoC) lowered its policy interest rate by another 25 basis points, from 3.00% to 2.75%. It was the central bank’s seventh consecutive cut.
What does it mean for Canadians as borrowers and savers when interest rate cuts happen? On the positive side, it means we’re starting to get inflation under control, and lenders are beginning to offer lower rates on mortgages and other types of loans. On the downside, it means the interest rates you can earn on guaranteed investment certificates (GICs)—a popular short-term savings vehicle in Canada—have started to drop.
Grow your savings with a high-interest savings account
Because GIC rates are dropping, Canadians are looking for alternatives for their short-term cash savings. High-interest savings accounts (HISAs) are a good option to consider. Whether you’re setting aside money for home renovations, a big trip or a financial gift to help your child buy their first home, HISAs provide more flexibility and liquidity than GICs, meaning your cash isn’t locked in and you can access it when needed…
Singh pledges low-interest, government-backed mortgages for first-time homebuyers
– canadianmortgagetrends.com
NDP Leader Jagmeet Singh is proposing a new government-backed mortgage program to help more Canadians get into the housing market—particularly first-time buyers who have been priced out in recent years.Mortgage fraud falling overall, but rising among first-time buyers
– canadianmortgagetrends.com
Mortgage fraud is trending lower in Canada after peaking last year, but new data from Equifax shows first-time buyers are increasingly behind the remaining risk.
