17 Jun

Borrowers leaving money on the table by not negotiating their mortgage renewal rates

General

Posted by: Dean Kimoto

In the face of higher costs, more Canadians are changing their grocery shopping habits, hunting for bargains and switching to lower-cost brands — yet many are leaving money on the table when it comes to their single largest transaction. According to a recent survey conducted by Mortgage Professionals Canada, homeowners are doing less haggling at renewal, despite most facing higher interest rates. […]

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14 Jun

Average Canadian rent hits an all-time high of $2,202

Latest News

Posted by: Dean Kimoto

Average rents across Canada are now up 32% from their pandemic lows. The average asking rent in May was $2,202, up $200 from the previous month and 9.3% from a year ago, according to the latest monthly report from Rentals.ca. Rent prices have been climbing steadily in recent years, rising $540 or 32% since hitting their […]

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11 Jun

Fixed mortgages are falling. Experts explain why and weigh in on fixed vs. variable

Latest News

Posted by: Dean Kimoto

Both existing homeowners and new homebuyers are benefiting from a drop in interest rates seen over the past week. Following last week’s Bank of Canada interest rate cut, which lowered rates for existing variable-rate mortgage holders, bond yields also plunged, triggering reductions in fixed-mortgage rate pricing. Last week, Government of Canada bond yields, which influence […]

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6 Jun

Bank of Canada Cuts Overnight Rate 25 bps to 4.75%

Latest News

Posted by: Dean Kimoto

A collective sigh of relief as the BoC cut rates for the first time in 27 month Today, the Bank of Canada boosted consumer and business confidence by cutting the overnight rate by 25 bps to 4.75% and pledged to continue reducing the size of its balance sheet. The news came on the heels of […]

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23 May

Canadian CPI Inflation Eased In April, Raising the Chances of a June Rate Cut

Latest News

Posted by: Dean Kimoto

The Consumer Price Index (CPI) rose 2.7% year-over-year (y/y) in April, down from 2.9% in March. This marks the fourth consecutive decline in core inflation. Food prices, services, and durable goods led to the broad-based deceleration in the headline CPI. The deceleration in the CPI was moderated by gasoline prices, which rose faster in April (+6.1%) than […]

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22 May

Homebuyers Cautious As New Listings Surge In April

General

Posted by: Dean Kimoto

Canadian Home Buyers Remain On the Sidelines In April As New Listings Surge. The Canadian Real Estate Association (CREA) announced today that national home sales dipped in April 2024 from its prior month, as the number of properties available for sale rose sharply to kick off the spring housing market. Home sales activity recorded over […]

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20 May

CMHC reports annual pace of housing starts in April down 1% from March

General

Posted by: Dean Kimoto

Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March. The seasonally adjusted annual rate of housing starts in Canada came in at 240,229 units for April, down from 242,267 in March, according to a report Wednesday by the national housing agency. The […]

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