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Sluggish Home Sales Facilitate Inventory Recovery Home sales edged down by 1.7% between March and April, marking the second monthly decrease in five months. Provincially, April saw decreases in Nova Scotia (-6.3%), Alberta (-4.5%), Manitoba (-4.1%), Ontario (-2.9%), Quebec (-1.3%), P.E.I. (-0.6%), and B.C. (-0.5%). Conversely, increases were recorded in New Brunswick (+12.7%), Saskatchewan (+11.5%), …

Federal Budget Summary: Housing and Capital Gains Tax In Budget 2024, the Liberal government renewed its commitment to enhancing affordability for low- and moderate-income Canadians. New spending totaling $53 billion over five years ($57 billion including expenditures from the Fall Economic Statement) was allocated for this purpose. A significant portion of this budget, $8.5 billion, …

Equifax: Safeguarding Seniors Against Fraud and Identity Theft Senior citizens are often targets of identity theft and fraud, making it crucial for them to be aware of the risks and how to safeguard themselves. According to the Federal/Provincial/Territorial Ministers Responsible for Seniors, fraud is the top crime against older Canadians. Factors contributing to this vulnerability …

CMHC Announced The First-Time Home Buyer Incentive Program Will Be Ending The deadline for new or updated applications for the First-Time Home Buyer Incentive is March 21, 2024, at midnight ET. No new approvals will be granted after March 31, 2024. Initially designed to ease monthly mortgage payments for first-time buyers, the program involved the …

Consumers Boost Spending in Year-End Purchases, Reflecting Positive Trends Based on the latest TD Spend data, consumers noticeably increased their spending, likely influenced by holiday festivities and warmer weather, with a 0.7% average monthly growth in the last quarter of the year. Despite variances in composition and timing of data collection, TD Spend serves as …

Missed Payments and Financial Strain Are Increasing for Many Canadians, Credit Card Debt Continues To Rise Total consumer debt in Canada stood at $2.4 trillion in Q3 2023, an increase of $80.9 billion from the same period last year, according to Equifax® Canada’s latest Market Pulse Consumer Credit Trends and Insights report. Despite the impact …

2023 Fall Economic Statement: What You Need to Know Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released the Fall Economic Statement on November 21, 2023. Here is an overview of key housing measures that may affect you:  Making Housing More Affordable The federal government acknowledges the need for long-term housing solutions. To address …

Safeguarding Your Mortgage: Cybersecurity Tips for Homebuyers October is Cybersecurity Awareness Month, and as your trusted mortgage broker, I want to share essential tips to help you protect your mortgage transactions and financial information from cyber threats. Confirm Communications: Phone Verification: Before sharing any financial details over the phone, verify the identity of the person …