#1. Think about financing early Canadian banks are very conservative when it comes to issuing mortgages for rental property investment. You’ll want to think about financing fairly early on to account for the likelihood that getting approved won’t be as easy as it was for your primary residence. Prime lenders will typically want to see…
The Bank of Canada (BoC) isn’t expected to cut its policy rate, so the focus this time will be for hints on the timing of when the first one will occur. Bond-market investors expect the BoC to start cutting in April, although the actual timing will depend on what happens with inflation, which is still…
Consumer debt in Canada has reached $20,739 per person, on average. Credit card spending and balances in Canada are trending upwards compared to recent years and more concerning, there’s an uptick in credit card accounts with missed payments. If you’re a homeowner, you might be wondering whether you can use the equity in your home to reduce your…
Real estate professionals say the Bank of Canada’s decision to hold interest rates at 5% is a positive sign for mortgage holders with loans tied to prime interest rates, though the high cost of borrowing will remain a challenge. Recently, Canada’s central bank decided to stay with its key policy rate 5% for a 3rd…
