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
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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
In 2025, Canada faces a historic $1.4 trillion in mortgage renewals, impacting millions of homeowners. Economic conditions, including interest rates and inflation, will heavily influence the terms of these mortgage renewals.Read more
Mortgage terms define how long your mortgage conditions, including interest rates, remain fixed. Mortgage terms range from 6 months to 10 years, affecting contract flexibility and interest rates.Read more
