Sixteen months of interest rate cuts should have jolted Canada’s housing market back to life. Instead, the sector has barely moved — and with the Bank of Canada (BoC) holding rates steady today, industry experts say the trade war’s shadow, not interest rates, will dictate where the market goes next. The BoC has lowered its policy…
Whether you’re a first-time buyer stretching to enter the market or an existing homeowner looking to refinance, the structure of your mortgage is critical. While interest rates get the spotlight, the amortization period is the silent engine of your loan, determining your monthly payments and the total cost of borrowing. One of the most common strategic…
A deal to end the punishing US-Canada trade war seems further away than ever after Donald Trump said he was ramping up levies on Canadian imports at the weekend, blasting an anti-tariff commercial recently aired in the US by the Ontario government. Trump’s latest move appears to add a fresh 10% tariff on Canadian imports,…
Applying for a mortgage as a first-time home buyer can feel like a huge and complicated challenge. And while careful research is key to demystifying the process, it can be difficult to separate fact from fiction when rumours and horror stories start filtering through! With this in mind, we debunk five of the most common…
Canada’s mortgage and housing markets are set for a slow but steady recovery, but the path forward is clouded by trade uncertainty and the risk of further US tariffs, according to a new CIBC Capital Markets forecast. The bank’s latest analysis projects that while a “soft landing” is likely, the road ahead is fraught with…
Even though I have discussed this topic in the past, it’s important to bring it up again! As you know, a home is more than just four walls and a roof over your head. It’s a place to call your own, a cozy retreat where you’ll create memories. But there are some lesser-known costs associated…
Borrowers are caught in a mortgage rate market that changes by the week, with little sign of stability ahead. With every passing week, the Bank of Canada faces conflicting economic signals, leaving Canadians guessing about its next move and triggering rapid changes in mortgage rates. After several weeks with the lowest 5-year fixed rates holding above 4%,…
Defaulting on a mortgage can be a daunting prospect for homeowners, potentially leading to a cascade of financial and legal consequences. It can lead to the sale of your property to recover the mortgage debt, which in turn can impact your credit and potentially lead to financial loss. Unfortunately, the number of Canadians concerned about defaulting…
Bank of Canada data shows fixed-rate borrowers face the steepest payment hikes this year and next, but not all mortgage holders are in the same boat Mortgage holders with 5-year, fixed-rate terms renewing in 2025 or 2026 are expected to face the sharpest payment increases, according to new Bank of Canada research. On average, this group could…
Considering selling your home in Canada before your mortgage term ends? It’s a common process in Canada, but it’s essential to understand how breaking your mortgage can affect your finances. Whether you hold a fixed or variable-rate mortgage, knowing your options, penalties, and the “porting” process can help you make an informed home buying decision…
