Personalized Mortgage Solutions, Secure Mortgages
Personalized Mortgage Solutions, Secure Mortgages
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This week, central bankers made headlines, but it was Canadian economic data that caught everyone’s attention. February saw a notable improvement in inflation, while retail sales showed weakness, raising expectations for an earlier rate cut by the Bank of Canada (BoC). The BoC’s March deliberations confirmed their readiness to lower rates later in the year, …
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 …
In February 2024, Canadian home prices, as indicated by the seasonally adjusted Aggregate Composite MLS® Home Price Index (HPI), remained stable compared to the previous month, marking an end to five consecutive declines that began last autumn. This information comes from the latest data released by the Canadian Real Estate Association (CREA). The fact that …
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 …
The Bank of Canada maintains overnight rate at 5% amid continued quantitative tightening measures. The Bank of Canada announced its decision to keep the target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank reaffirmed its commitment to quantitative tightening. Globally, economic growth witnessed …
The deadline to submit 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. Originally designed to ease the burden of monthly mortgage payments for first-time buyers, the program involved the government acquiring partial ownership of a property. …
From National Bank of Canada In the fourth quarter of 2023, Canada experienced a second consecutive decline in housing affordability, impacting every market. This decline was driven by increased mortgage payments as a percentage of income (MPPI), attributed to rising interest rates and home prices. Consequently, recent affordability improvements have been nearly erased, with the …
After a sluggish second half of 2023, Canadian home sales show promising recovery in recent months. Recent data from the Canadian Real Estate Association (CREA) indicates a positive shift in the housing market following a lackluster performance in the latter part of 2023. According to CREA’s latest report, home sales have begun to rebound, with …
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 …
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global economic growth continues to slow, with inflation easing gradually across most economies. While growth in the United States has …
