Coin Toss: Rate Increase NOW or in July?
The odds of the Bank of Canada raising rates at this week's monetary policy meeting are essentially a coin toss, according to economists. While the decision could go either way, the markets indicate a slightly higher chance of the bank maintaining the status quo for another month. This is primarily to wait for the release of the May employment...
Canada’s Strong GDP Growth Fuels Speculation of Rate Hikes by the Bank of Canada
Canada’s strong Q1 2023 GDP growth fuels speculation of rate hikes by the Bank of Canada. Experts debate whether to raise rates in June or July, considering inflation and business investments. Uncertainty surrounds the central bank’s upcoming decisions.
Explained: Why Fixed Mortgage Rates have been Increasing in May 2023
Recent weeks have witnessed a surge in mortgage rates at various lenders, including several of the Big-5 Banks in Canada, as the Government of Canada's 5-year bond yield experiences a significant increase. This rise in bond yields, currently at a 14-month high of 3.58%, has prompted mortgage rate hikes, primarily targeting shorter terms. The...
Are Bank of Canada Rate Hikes Really Over?
The recent uptick in Canada's annual inflation rate has sparked a debate among economists regarding whether the Bank of Canada should raise interest rates once again. While some experts caution against premature rate increases, Scotiabank's chief economist suggests that the central bank should take immediate action to address potential inflation...
Canadians are Abandoning the Usual 5-year Mortgage Terms
In recent months, there has been a noticeable shift in the preferences of Canadian homebuyers when it comes to mortgage terms. According to data from the Canada Mortgage and Housing Corporation (CMHC), over one in three new homebuyers and those renewing their mortgages are opting for fixed-rate terms of three years or less. In January, 36% of new...
Could Higher Interest Rates be the Reason Canadians are Not Listing Their Homes?
In a surprising turn of events, the Canadian housing market is experiencing a shortage of new home listings, with homeowners showing reluctance to sell their properties. This has led to a surge in home prices, leaving potential buyers facing limited options and entering bidding wars. While there may be multiple factors at play, one significant...
Mortgage Minute 24: Things are getting HOT in Alberta
After a period of uncertainty caused largely by the Bank of Canada raising its rate by more than 3%, it seems the housing markets in Canada are finding their footing once again.
Mortgage Minute 23: It’s heating up in Calgary
IT'S HEATING UP IN CALGARYIt's starting to warm up, is the market about to follow?Need Some Mortgage Advice? Whether getting a mortgage on your first home, or looking at options for your next one we are here to help. Our team prides itself on open and honest advice. Come see why we just received an award for top 100 mortgage brokers in the world....
Mortgage Minute 23: Spring has Sprung in Edmonton!
SPRING HAS SPRUNG IN EDMONTONHave we arrived at the home buying "Sweet Spot?"Need Some Mortgage Advice? Whether getting a mortgage on your first home, or looking at options for your next one we are here to help. Our team prides itself on open and honest advice. Come see why we just received an award for top 100 mortgage brokers in the world. Our...