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 […]

Who is offering the award? The Canada Mortgage and Housing Corporation (CMHC) is offering the 2024 Housing Research Awards. What is it? The Housing Research Awards celebrate innovative and impactful housing research. If you’re exploring issues related to housing in Canada, this is your chance to get funding for your completed or nearly complete research […]

As the landscape of mortgage renewals continues to evolve, many homeowners are exploring a wider array of options than ever before. Traditionally, the 5-year fixed term was the go-to choice for most. However, with the current economic climate and rising interest rates, it’s crucial to reassess your mortgage strategy to optimize cash flow and ensure […]