Bank of Canada finally raises interest rate

Bank of Canada finally raises interest rate

For the first time in 7 years, the Bank of Canada didn’t announce that they were keeping their overnight rater at 0.5%. Instead, they announced this week a rate increase: to 0.75%. The bank cited economic growth—both domestic and international—for their position...
Summer is here, but is the market cooling?

Summer is here, but is the market cooling?

As recently reported by the Canadian Real Estate Association, the number of homes sold across Canada via the MLS system fell by 6.2% in May 2017 compared to April 2017. The month-over-month percentage decline was the largest since August 2012. Toronto had the greatest...
Could this real estate market be turning?

Could this real estate market be turning?

As per the Canadian Real Estate Association’s latest update, national home sales fell 1.7% between March and April and 7.5% since April 2016. Newly listed homes, however, were up 10% between March and April. This is good news if you want to purchase a home now. It...
What’s new for Canadian mortgages in 2017

What’s new for Canadian mortgages in 2017

The mortgage world has definitely changed over the last year with what seemed like new mortgage rules coming out monthly. Last week, CMHC announced new increases to the insurance premium charged on mortgages it insures. This new change will take effect March 17th....
Farewell to 2016

Farewell to 2016

What a year 2016 has been, from the many mortgage rule changes in Canada that created great confusion and questions to the most of interesting US elections and now rising interest rates in the US. The US Federal Reserve recently pushed interest rates up by just 0.25%,...
Why Canada is a great place to own real estate

Why Canada is a great place to own real estate

Canadian real estate prices remain strong. Our low interest rate environment and diverse, stable economy attract investors looking for appreciating assets to invest in, such as real estate. Federal and provincial governments have attempted to slow down how...

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