The U.S. election season often impacts the Canadian economy, especially interest rates. Here’s what you need to know about recent developments and predictions for Canadian mortgage rates. How U.S. Politics Influence Canadian Rates Political shifts in the U.S. can lead to economic ripples in Canada, affecting our exchange rate, investment flows, and interest rates. Recently, […]

The Canadian housing market is always changing, so it’s important to understand key financial terms – especially if you have a mortgage or want to buy a home. One of these key terms is the Prime Rate, which affects how much you pay on your mortgage each month. Let’s break down how the prime rate […]

Moving to a new country is a big step, and finding a place to call your own can make settling in even more rewarding. For newcomers to Canada, the journey of purchasing a home can feel both exciting and overwhelming. This guide is here to help you navigate the process of buying a home in […]

Over the past few months, the Canadian government has introduced significant changes to mortgage rules, aiming to make homeownership more accessible. These changes, set to take effect on December 15, 2024, address pain points in the existing system and offer potential solutions for homebuyers, especially first-timers and those seeking new builds. Timeline and Key Changes: […]

Interest rates are a key concern for both current and aspiring homeowners in Toronto. Understanding why mortgage rates are high, whether they will decrease, and what to expect in the coming years can help you make informed decisions about your home financing. This blog will cover the current trends in interest rates, the Bank of […]

The Canadian real estate market is approaching a significant shift. As 2025 nears, homeowners—especially investors and those who purchased second homes during the COVID-19 pandemic—face a tough reality. Rising interest rates are set to increase mortgage payments dramatically, turning once-affordable properties into financial burdens. The Ticking Time Bomb Many homeowners bought properties during the COVID-19 […]

Understanding the Rate Hikes The Bank of Canada has incrementally increased interest rates over the past year, with the goal of stabilizing the economy and controlling inflation. As of mid-2024, the overnight rate stands at 4.75%, a significant jump from the near-zero rates seen during the pandemic. These hikes aim to temper the economy and […]

Are Interest Rates Dropping? Yes, interest rates are expected to go down by 2027, but the decrease in 5-year fixed rates is likely to be just 0.20%. This small drop might not make up for the extra costs of waiting to buy a home. Variable rates are expected to drop by about 1.75%. This might […]

New Homes Market Supply and Demand Dynamics The new home market in Canada is expected to experience a moderate increase in supply. However, this increase may not be sufficient to meet the rising demand, particularly in major urban centers. The supply-demand imbalance is driven by several factors: Population Growth: Immigration and urbanization continue to drive […]