The most important thing experts look at when predicting the housing market in Canada for 2024 is interest rates. The Bank of Canada has been raising interest rates since March 2022. These higher rates have affected many people across Canada. Some effects are good,...
This year, mortgage interest rates will be a big topic in the Canadian real estate market. After the standard five-year fixed-rate mortgage stayed above six percent for four months in a row, many things have happened with interest rates. These changes could help...
As of August 27, 2024, the Canadian mortgage market is changing. It is affected by different economic factors, changes in interest rates, and government policies. Let’s look at the main trends and news in this area. Interest Rate Trends Recent Cuts The Bank of Canada...
On June 5, 2024, the Bank of Canada made a big decision to lower its key interest rate by 25 basis points. This change brought the rate down from 5.00% to 4.75%. While a 0.25% decrease may not sound like a lot, it means that if you have a mortgage of $500,000, your...
Are you curious about Canada’s prime rate? You’re in the right place! The prime rate is important because it can affect many things, like your mortgage payments and loans. Let’s break down what the prime rate is, how it changes, and what it means for you. What...
The Bank of Canada (BoC) recently made an important decision by lowering its key interest rate by 0.25%. This change brings the overnight rate down to 4.75%. After keeping the rate at a high of 5% for nearly a year, this shift is significant for everyone—from...
