Wave of sidelined homebuyers plan to return to the market this spring
3/16/2023 | Posted in Canadian Housing Market by Jessi Sandhu
Many Canadian homebuyers were sidelined after interest rates climbed to the highest level in more than a decade last year, but a new report found most individuals that postponed ...
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BoC: Time to pause but there are no guarantees that will stick
2/16/2023 | Posted in Interest Rates by Jessi Sandhu
Governor Tiff Macklem set an optimistic tone in a speech Thursday but kept it real with warnings about potential headwinds ...
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What's next for variable-rate mortgages in 2023?
2/14/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
One of the most prominent discussion points between brokers, agents and their clients, the fixed-versus-variable debate, took a significant swing in 2022 as a big trend of ...
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1/26/2023 | Posted in Mortgages and Real Estate by Jessi Sandhu
Central bank signalled it would put the rate hiking cycle on pause - at least for now ...
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Fixed mortgage rates are falling
1/30/2023 | Posted in Interest Rates by Jessi Sandhu
While rates have been steadily climbing for variable mortgages, fixed mortgage rates have been moving in the opposite direction. ...
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OSFI proposes new mortgage restrictions
1/13/2023 | Posted in Mortgage News by Jessi Sandhu
Canada's banking regulator has unveiled three new regulatory proposals that could further restrict mortgage lending pending a just-launched consultation period. ...
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Will the Bank of Canada raise mortgage rates again in 2023?
1/3/2023 | Posted in Mortgage Interest Rates by Jessi Sandhu
Some industry analysts believe the time for rate hikes has come to an end. ...
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Could the latest BoC announcement stabilize Canada's housing market?
12/21/2022 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The end of the central bank's rate hikes may be imminent – a development that could be a welcome boost for homebuyers ...
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A $200,000+ income is now needed to qualify for an average mortgage in Toronto & Vancouver
12/20/2022 | Posted in Home Buyers by Jessi Sandhu
High home prices and rising interest rates over the course of 2022 have made it significantly harder for buyers to qualify for the average mortgage. ...
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Bank of Canada announces another big hike
12/7/2022 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada is increasing its key overnight interest rate by 50 basis points to 4.25 per cent. This is the seventh consecutive increase since the Bank began hiking rates in ...
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There have never been so many renters in Canada, RBC report says
12/7/2022 | Posted in Rental Market by Jessi Sandhu
Royal Bank of Canada economists say the country has reached a record number of renters as the number of people renting has increased at three times the rate of homeowners in the ...
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BoC expected to end year off with one more rate increase, likely to pause hikes soon
12/2/2022 | Posted in Interest Rates by Jessi Sandhu
The Bank of Canada is expected to conclude a historic year marked by high inflation and aggressive monetary policy tightening with one more interest rate hike on Wednesday. ...
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Recent homebuyers to find rate increases painful: BoC
11/23/2022 | Posted in Home Buyers by Jessi Sandhu
Variable-rate mortgage holders who have recently purchased their homes will be especially burdened by the prevailing rate-hike environment, according to Bank of Canada senior ...
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Canada's mortgage stress test - leading lenders weigh in
11/15/2022 | Posted in Home Buyers by Jessi Sandhu
Already a source of huge debate in the mortgage industry since its introduction, the mortgage stress test came under scrutiny from executives at top Canadian lenders during a ...
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Why are mortgage rates going up in Canada?
11/8/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu
Plus: The trajectory of interest rates throughout the year to date ...
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BoC's Macklem: More interest rate hikes are "warranted"
10/7/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu
Having already raised interest rates by 300 basis points this year, the Bank of Canada’s Tiff Macklem confirmed on Thursday that additional rate hikes (plural form) are ...
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Nearly 1 in 5 Canadians putting off buying a home due to inflation, high interest rates: survey
10/4/2022 | Posted in Home Buyers by Jessi Sandhu
With high inflation and rising interest rates, a new survey has found nearly one in five Canadians say they're putting off buying a home. ...
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New construction home buyers vanish as interest rates rise
9/28/2022 | Posted in New Developments by Jessi Sandhu
Sales levels of condos and single-family homes were more than 80 per cent lower than last August, says the homebuilders’ association. ...
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OSFI has no plans to loosen the stress test
9/14/2022 | Posted in Home Buyers by Jessi Sandhu
Despite today’s mortgage borrowers having to qualify at rates in excess of 6% and 7%, Canada’s banking regulator said no changes to the stress test are imminent. ...
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Canadian banking regulator insists it will not budge over mortgage rules
9/9/2022 | Posted in Home Buyers by Jessi Sandhu
Renewed calls to re-evaluate the stress test came in the wake of the Bank of Canada's latest outsized rate hike ...
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Canadians turning to credit unions for mortgages as interest rates jump
9/8/2022 | Posted in Home Buyers by Jessi Sandhu
In a country where the Big Six banks control 80 per cent mortgage market share, Canada’s smaller lenders are making some rare headway after the Bank of Canada’s sudden ...
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Bank of Canada announces another big rate hike
9/7/2022 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada has increased its benchmark rate by 0.75%, marking a fifth consecutive hike in its latest effort to get surging price growth under control. ...
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BoC's Affordability Index reaches its worst level since 1991
8/14/2022 | Posted in Home Buyers by Jessi Sandhu
Housing affordability deteriorated to its worst level in over 30 years, according to data from the Bank of Canada. ...
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What Are the Monthly Expenses of Carrying a Home?
8/1/2022 | Posted in Home Buyers by Jessi Sandhu
Here is a list of expenses you will have with carrying a home. ...
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What are the pros and cons of buying a house in a recession?
7/31/2022 | Posted in Home Buyers by Jessi Sandhu
Here are the pros and cons of buying a house in a recession - and everything in between. ...
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Bank of Canada to hike key interest rate by 0.75%, economists say
7/10/2022 | Posted in Mortgage Interest Rates by Jessi Sandhu
Economists are predicting the Bank of Canada will hike its key interest rate by three-quarters of a percentage point on Wednesday as inflation rages on globally. ...
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Extending mortgage period could keep payments in check even as rates rise
6/17/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu
Experts say extending the amortization period for your mortgage could keep your monthly payments in check even as you face higher interest rates, but caution that doing so comes ...
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Canadian housing starts trend lower in May
6/16/2022 | Posted in Canadian Housing Market by Jessi Sandhu
In May, the number of new homes that started construction in Canada trended lower compared to the previous month, but still remained at elevated levels. ...
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Bond yields soar higher, fixed mortgage rates expected to follow
6/14/2022 | Posted in Interest Rates by Jessi Sandhu
Bond yields surged to a fresh 14-year high this week, driving expectations that fixed rates are likely to continue rising. ...
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Bank of Canada says some Canadians could see mortgage payments jump by 45% in 2025-26 as rates rise
6/10/2022 | Posted in Mortgages and Real Estate by Jessi Sandhu
Central bank highlights rising debt loads and falling home prices among ...
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