Mortgage renewals in Canada could pose a risk to the economy as interest rates rise. BoC cut rates slightly but it may not be enough to ease the burden on borrowers.Read more
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The federal government is simplifying the process for first-time homebuyers by permitting 30-year amortizations for insured mortgages on new builds from August 1. This policy is designed to assist young Canadians in qualifying for mortgages and purchasing their first homes by reducing monthly payments. However, it may lead to higher interest payments over 30 yearsRead more
The Bank of Canada is easing its policy stance as the economy shows signs of recovery. After lowering the interest rate to 4.75% in June, another cut is expected this fall.Read more
Predictions point to further interest rate cuts in 2025 to bolster economic recovery efforts.Read more
After a period of economic upheaval, Canada's economy is starting to stabilize, but challenges remain. No further interest rate cuts are expected until fall 2024.Read more
The Bank of Canada is likely to cut rates due to falling inflation, primarily driven by increasing shelter costs. This move is expected to alleviate mortgage interest costs and stabilize real estate markets. Amidst consumer and business pessimism, further economic slowdown is anticipated, possibly leading the Bank to lower its policy rate to 2.5%-3%. Variable-rateRead more
On June 5, the Bank of Canada cut the benchmark rate from 5.00% to 4.75%. Confidence in hitting the 2% inflation target due to declining core inflation.Read more
Fixed-rate mortgages offer stability with unchanging monthly payments throughout the term. Variable-rate mortgages have payments that change with interest rate fluctuations, posing potential risks.Read more
The BoC is confident after raising its rate by 475 points over 2-yr to curb inflation. The Bank's dovish tone raised hopes for another rate cut in July and potentially lower rates by year-end.Read more
Borrowers often focus on interest rates when shopping for mortgages, but the term length of the mortgage contract is crucial for overall costs and flexibility. In Canada, common mortgage term lengths include three years (flexible but requires more lender comparison), five years (popular but can lead to penalties if broken early), and ten years (secureRead more
