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
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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
Investing in pre-construction condos in Ontario involves understanding occupancy and closing costs. The interim occupancy period allows buyers to occupy their unit before the title transfer, requiring payment of occupancy fees, which include interest on the unpaid balance, estimated maintenance fees, and property taxes. These fees do not build equity. Closing costs arise once theRead more
Ontario's financial services regulator, FSRA, is implementing measures to promote fair outcomes for individuals obtaining or investing in mortgages. Continue to full articleRead more
The Bank of Canada, led by Governor Tiff Macklem, is considering further rate cuts following a drop in the consumer price index to 2%, the lowest since February 2021. Macklem noted that the bank has achieved key goals in managing inflation, which is now within the target range. The next monetary policy decision is setRead more
