Weekly Steve Kornbluth (Agent with TMG Safebridge Mortgage Solutions) touches on "big news" and what it means for the mortgage market moving forward. Have a look at his thoughts for the week of March 13, 2023. The BoC didn’t increase its policy rate (but did reiterate its hawkish bias). Canadian variable-rate borrowers rejoiced last Wednesday after the BoC announced that it would hold its policy rate steady (for the first time in nine meetings, going back to... [read more]

Written by: Ryan Serhant Founder & CEO at SERHANT | Host of the Business of Influence Podcast | 2X Bestselling Author  If we can't trust banks, the stock market, or cash to keep our dollars safe, what do we do with our money? With the recent collapses of Silicon Valley Bank (SVB) and Signature, people are scratching their heads, wondering what to do next. And while there's no magic bullet, there is a better answer: real estate. Here’s why... SVB was the... [read more]

Bank of Canada’s Interest Rate Announcement: Increase of 0.25% The Bank of Canada‘s overnight rate is back on the upswing, per this June 7, 2023 interest rate announcement. The Bank raised its key rate to 4.75 per cent, marking the first increase since January and the highest rate we’ve seen since April 2001. Why the upward movement? The Bank cited stronger-then-expected economic activity as the reason for its decision, driven by consumer demand and consumption. Gross... [read more]