Is the Bank of Canada’s policy costing you more?
On June 7th, the Bank of Canada increased the target lending rate by 0.25%, bringing it to 4.75%. That is an increase of 4.5% over a 15 month period. If you got a variable rate mortgage in 2020 or 2021, you may find yourself struggling to budget the increases to your payment. Locking into a fixed rate will […]
Deficit has soared ahead of March 22 Budget, Bill Morneau says
On Monday February 22, 2016 CBC News posted an article about the Liberal government forecasting greater than expected deficits for the next two years. Susana Mas, CBC News – The Liberal government is now forecasting larger than expected deficits for the next two years even before adding billions in promised spending in its first budget, which […]
Federal Reserve Hikes Interest Rates for the First Time Since 2006
On Tuesday December 16, 2015 CBC News posted an article about the Federal Reserve’s hike in interest rates for the first time since 2006. Pete Evans, CBC News – The U.S. central bank began raising interest rates today from record lows, as it hiked its benchmark rate by a quarter of a percentage point. The Federal […]
Everyone has a plan. Until they get punched in the face.
On September 4th the Bank of Canada will be meeting. At that meeting, they will share with us their thoughts about the Canadian economy. As of writing this post the implied odds of a rate drop on Sept 4th is 20%, the odds that rates will be lower by at least 25bps for Christmas are […]
Don’t Stress your Finances this Winter
It has definitely been a long winter thus far. As the calendar shifts to February, it would be easy to understand why Canadians might be stressed out. The Omicron variant has hit us pretty hard and has forced a ton of us away from our loved ones once again. We also had one of the largest […]
CP24 interview with Marcus Tzaferis December 17, 2010
How to Know If Controlled Demolition Is Right for You
The Bank of Canada (BoC) has been telling us that it needs to increase rates. The frequency and amplification of their message has been steadily rising. As their message becomes louder, the market begins to make its own noise. We can try to predict what further rate increases will bring to the market, but we […]
Key Trends in Canadian Mortgage Competition Right Now
The following is a summary of some important points we have drawn from the above article which was produced by the Bank of Canada. It is important to note that this article was produced with the intent of identifying ways that Bank of Canada’s monetary policy would have a greater impact on Canadians. In short, […]
Hidden Expenses in Home Ownership You Should Know
The great thing about purchasing your very first home is that you can stand in the middle of your backyard or on your balcony and scream at the top of your lungs, “I’m a home owner!” Well don’t yell that loud, your neighbours might call the cops instead of ringing your doorbell with a freshly […]
CMHC Announces it will be Rationing Mortgage Backed Securities
Yesterday we posted an article on our Facebook page discussing the next attempt to slow down Canada’s housing market. The Government of Canada, through its wholly owned Crown Corporation CMHC, has decided to begin limiting the dollar amount of mortgages Canada’s Mortgage Lenders will be able to have guaranteed by the Canadian Government. This newsletter […]