Bank of Canada cuts key interest rate to 4.5% with hints of more to come

7/24/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle. ... More

Tags: Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Canadian Debt, Home Buyers, Household Debt, Mortgage Debt, Variable Rate Mortgages

Where are the most mortgage-free homeowners in Canada?

5/30/2024 | Posted in Home Owners by Jessi Sandhu

A recent study on Statistics Canada data shines light on trend ... More

Tags: Canadian Households, Home Owners, Home Ownership, Mortgage Debt, Mortgage Trends

Residential mortgage debt hits $2.16 trillion amid slowest growth in 23 years: CMHC

5/29/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4 per cent year-over-year and ... More

Tags: Canadian Debt, CMHC, Household Debt, Mortgage Debt

OSFI announces new stress test for uninsured mortgages

4/16/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canadian regulator cracks down on high-debt mortgages to protect borrowers ... More

Tags: Canada Living, Canadian Mortgage Market, Mortgage Consumers, Mortgage Debt, Mortgage Interest Costs, OSFI

Is it time for aggressive rate cuts?

3/19/2024 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu

'I hope they're not tepid,' says expert about BoC's upcoming decisions ... More

Tags: Mortgage Consumers, Mortgage Debt, Mortgage Rate Forecast, Mortgage Rates Canada, Variable Rate Mortgages

B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says

3/5/2024 | Posted in Financial Health by Jessi Sandhu

Equifax Canada says consumers in Ontario and British Columbia increasingly missed payments on mortgages and credit cards in the fourth quarter of 2023. ... More

Tags: Mortgage Consumers, Mortgage Debt, Mortgage Delinquency, NonMortgage Debt

There's a common theme among Canadians overwhelmed by debt

2/6/2024 | Posted in Financial Health by Jessi Sandhu

Further analysis of the latest Canadian insolvency stats reveal some revealing elements that typically connect those whose finances have got too much for them. ... More

Tags: Canada Living, Canadian Debt, Canadian Households, Household Debt, Insolvency, Mortgage Debt, NonMortgage Debt

Under-35 households lead the way in reducing mortgage debt, StatCan reports

1/25/2024 | Posted in Mortgages and Real Estate by Jessi Sandhu

Canada’s youngest demographic of homeowners is the only group to have reduced their mortgage debt since rates started rising in 2022. ... More

Tags: Canadian Debt, Canadian Mortgage Market, Household Debt, Mortgage Consumers, Mortgage Debt