Canada’s housing developers are facing intensifying headwinds in 2025 as macroeconomic uncertainty, buyer affordability concerns, and rising trade tensions continue to suppress activity in an already strained market, according to a new commentary by Morningstar DBRS. Despite ongoing demand driven by a national housing shortage, total housing starts in January and February 2025 fell 5%…
Learn about mortgage lenders in Canada for 2025, from the big banks to smaller lenders and financial institutions in between. Brace yourselves for a very long read…! What You Should Know The majority of Canadians still get a mortgage from a bank, but there are other mortgage lenders that may offer more competitive rates or…
Prime Minister Mark Carney is promising relief for first-time homebuyers by eliminating the GST on homes priced at $1 million or less. The new measure, unveiled in Edmonton just days before the expected launch of the federal election campaign, would save buyers as much as $50,000, Carney said. It also aims to stimulate new housing…
An introduction to down payments A down payment is the lump sum of money you initially put towards the purchase price of a home. If you’re already a homeowner, you may choose to use some money from the sale of your current property towards the down payment on your next one. If you’re a first-time homebuyer,…
Survey finds 60% of homeowners are cutting back on spending to manage higher renewal costs As more than one million Canadian mortgages come up for renewal in 2025, many homeowners are preparing for significantly higher monthly payments after securing their loans at record-low interest rates in previous years. A Royal LePage survey reveals that 57%…
Interest rates are on the move and many homeowners may find themselves questioning whether they’re getting a good deal on their mortgage rate and terms. Or maybe you want to tap into your home equity. Whatever the reason may be, it is important to understand the steps involved with refinancing your mortgages. Let’s take a…
Rarely has one man stolen the show in Canada’s interest rate market like Donald Trump did recently. The brash new president, with his tariff threats and regulatory, fiscal and immigration policies, threw bond traders for a loop. Given that bond yields steer the ship on fixed mortgage rates, Trump’s political riffs are quite relevant to mortgage pricing, even on this side of the border….
To begin with… what is it? The prime rate is a critical factor influencing mortgage rates in Canada . It serves as a benchmark for variable lending products , including mortgages , lines of credit, and HELOCs . The prime rate is a critical factor influencing mortgage rates in Canada. It serves as a benchmark for variable lending products,…
With inflation back to the Bank of Canada’s 2% target and rate cuts expected to continue through this year, Canadians should anticipate lower mortgage rates and better deals in 2025, experts say. Canadians have been facing higher interest rates over the last few years, after the Bank of Canada hiked its policy rate in the…
Falling interest rates and new mortgage rule changes are set to bring borrowers back into the picture The tide may well be about to turn in Canada’s housing and mortgage markets, with interest rate cuts spurring improved buyer sentiment and a recent jump in home resales. Homebuyer caution continued to linger at the end of…
