Rate Cuts Impact: Bank of Canada rate cuts may not lower mortgage costs. Variable vs. Fixed Mortgages: Variable-rate mortgages respond to cuts; fixed rates depend on bond yields.Read more
Rate Cuts Impact: Bank of Canada rate cuts may not lower mortgage costs. Variable vs. Fixed Mortgages: Variable-rate mortgages respond to cuts; fixed rates depend on bond yields.Read more
The BoC cuts its key lending rate by 25 basis points following a 27-mo period of rate hikes totaling 475 basis points. Markets expect further rate cuts in September and December, possibly starting as early as July if inflation remains controlled.Read more
~2M Canadians will renew their mortgages in the next year and a half. While interest rates had been rising, the BoC recently cut its key rate.Read more
Chief economist Douglas Porter analyzes the effects of Bank of Canada's rate cut on the Canadian dollar, housing market, and wage growth. The Canadian dollar remains stable, housing market activity is limited, and wage growth is challenging with a 5.4% increase in June. Unemployment rate rose to 6.4% in June due to student unemployment andRead more
Canadian mortgage holders have an opportunity to reevaluate their options as interest rates begin to decrease. It's important to understand market dynamics and Bank of Canada policies, considering factors such as credit score, market rates, mortgage type, term, penalties, prepayment options, negotiation, and professional advice. Meanwhile, Ontario has introduced a financial literacy test for highRead more
Over 2M Canadians face mortgage renewals with higher interest rates impacting housing plans. Mortgage experts anticipate a gradual decrease in interest rates starting possibly in June/July 2024.Read more
First Rate Cut in 4-Yr: The Bank of Canada cut its key interest rate for the first time since 2020. This could save Canadians money, but it likely won't be a return to very low rates.Read more
The BoC cut interest rates for the first time in 4-yr, potentially impacting the summer Real Estate market. This may benefit those with variable-rate mortgages or upcoming renewals (2.2M households in 2024-2025).Read more
A new survey reveals that downsizing, upsizing, and relocating are the main reasons homeowners consider selling. Market timing is crucial for achieving desired sale prices, according to 23% of respondents. Financial strain is a less common reason for selling, with only 11% citing unmanageable mortgage payments. Downsizing is the top reason at 37%, followed byRead more
The Bank of Canada cut the key interest rate for the first time in 4 years by 0.25% to 4.75%.This comes after a period of high inflation and to boost the economy which contracted in Q1.Read more
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