Bank of Canada’s Rate Decision: Stimulus vs. Risks The Bank of Canada’s December 11 rate announcement is creating buzz, with most analysts predicting another oversized interest rate cut. If they proceed with a 50-basis-point reduction, the policy rate will drop to 3.25%, a level designed to neither stimulate nor restrain economic growth. Why a Big Cut is Expected Inflation is now at the central bank’s 2% target, GDP growth fell short of forecasts in Q3, and... [read more]

For many Canadians, the next step after completing their education and securing a job is buying a home. Home ownership is, after all, the Canadian dream. While it’s common knowledge that saving up for a down payment is the first step to eventually buying a home, many are not aware of the mortgage stress test. So, what is the mortgage stress test in Canada? To put it simply, the mortgage stress test is a mortgage qualifier tool used to determine if the borrower would... [read more]

There are a variety of reasons that you might choose to sell your home before the mortgage term ends. The most common scenario is when you move to a new location or your family situation has changed with the addition of children or when they move out. In all these cases, your home no longer meets your needs, and you may want to break your mortgage contract. If you are considering selling your house early, make sure that you understand the costs that are associated with breaking the mortgage... [read more]

Despite rising housing costs and affordability challenges, young Canadians are steadfast in their pursuit of homeownership. Key points include: 1. Prioritization: Young Canadians under 30 are prioritizing homeownership over other major life events, such as weddings, with 78% of single or unmarried individuals focusing on saving for a mortgage. 2. Affordability Concerns: While 72% of this group believes homeownership is becoming unattainable due to high costs, they still view it as crucial... [read more]

Don’t get swept up among the leaves and the myths of the fall real estate market. If you’re thinking about listing your home for sale, we dispel some common misconceptions, and share some helpful tips to help turn that “For Sale” sign to “Sold.” Curb appeal doesn’t matter in the fall real estate market. False! Summer may have come to an abrupt end, but that doesn’t mean your home’s exterior should fall by the wayside (pun intended!).... [read more]