Bond yields and mortgage rates are currently unpredictable due to rising oil prices and strong US employment data. After a period of declining yields, geopolitical tensions in the Middle East have caused oil prices to surge, raising inflation concerns. The Bank of Canada anticipates future rate cuts, but recent developments suggest fixed mortgage rates mayRead more
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The Canadian government will implement new mortgage rule changes on December 15, 2024, aimed at aiding first-time buyers and those purchasing new homes. Key changes include raising the insured mortgage price cap from $1 million to $1.5 million and allowing 30-year amortizations for eligible buyers. While these changes may improve access to homeownership, concerns existRead more
Reduced benchmark rate thrice to 4.25%, maintaining cautious levels not yet stimulating the economy significantly.Predictions of further rate cuts to 2.5% next year, driven by the need to enhance economic activity as inflation concerns diminish.Read more
The Bank of Canada’s rate cut benefits homeowners with variable-rate mortgages by reducing monthly payments. A 0.25% rate cut lowers payments by approximately $15/$100K of mortgage debt.Read more
The Canada Mortgage and Housing Corporation reports a 13% decline in total housing starts in the Toronto area in early 2024 compared to 2023, with rental apartment starts falling by 40%, particularly in Toronto where they dropped by half. High financing costs and declining rents are making rental developments unviable. Although apartment completions increased slightly,Read more
End of 2024 Projection: Rate to decrease to 3.75% by late 2024. 2025 Further Reductions: Additional cuts could bring rate down to 2.75% by end of 2025.Read more
Buying your first home in Ontario can be exciting yet overwhelming. Key steps include saving for a down payment, with options like the RRSP Home Buyers' Plan allowing access to $60,000 and the First Time Home Buyer Savings Account offering tax-free savings up to $40,000. First-time buyers can also benefit from tax credits, such asRead more
Ontario’s Financial Services Regulatory Authority (FSRA) has released final guidance for mortgage brokers to improve oversight and consumer protection. The guidance highlights the role of principal brokers in larger brokerages, aiming to empower them with more authority and resources for compliance and training. FSRA focuses on fostering a strong compliance culture within brokerages. Additionally, FSRARead more
Nearly a decade after the Paris Agreement, companies like Shopify are investing in direct air capture (DAC) technology to meet climate goals. Shopify joined Frontier, committing $925 million to purchase carbon removal credits, with $91 million allocated to DAC firms. While DAC is costly and currently accounts for a small fraction of carbon removal, itRead more
Conduct detailed inspections to uncover hidden issues and avoid costly repairs later. Select locations with strong amenities and growth potential for successful Real Estate investments.Read more
