In an anticipated move, the Bank of Canada has lowered its benchmark interest rate to 4.25%. This marks the third consecutive rate cut and comes after months of interest rate hikes, as the central bank navigates a delicate balance between managing inflation and sustaining economic growth. But what does this mean for homeowners, especially those with […]
Canada’s annual inflation rate continues to decline, reaching 2.5% in July—its lowest level since March 2021. This steady decrease signals significant progress in controlling high inflation and aligns with the growing anticipation of a potential third consecutive interest rate cut by the Bank of Canada on September 4th. Economic Overview: A Step Towards Stability The […]
In a significant move last week, the Bank of Canada cut interest rates by 0.25%. This rate cut, the first since March 2020, has sparked notable shifts in both fixed and variable mortgage rates, bringing potential benefits to current homeowners and prospective buyers alike. Whether you’re considering renewing your mortgage or entering the market for […]
Housing market activity and prices have declined as per the latest market reports and the Bank of Canada continues to combat inflation with rate hikes that have been affecting the cost of borrowing. CIBC’s deputy chief economist, Benjamin Tal, describes what’s happening today as a reallocation of activity and a necessary adjustment after the record […]
The Bank of Canada has raised its policy rate by 0.5% as it continues its efforts to curb high inflation and rebalance demand and supply. This was an expected increase although experts were anticipating a larger rate hike of 0.75 %. The policy rate affects the cost of borrowing for various loans, including variable rate […]
The Bank of Canada has raised its policy rate by .75%, an increase that was expected as the Bank continues its efforts to bring inflation down to more normal levels. This rate affects the cost of borrowing for various loans, including variable rate mortgages and lines of credit. In the Bank’s announcement, it stated that the economy continues to […]
Rising rates and their effect on the economy, the housing market, and Canadian household finances, continue to be hot topics in Canada. Mortgage Alliance professionals are playing a key role answering questions and providing expertise and solutions for a wide range of customer unique situations, challenges, and opportunities. National home sales are down and average home […]
The Bank of Canada increased the policy interest rate by 1%, an increase that exceeded expectations and the largest since 1998, as the bank attempts to control high inflation. The Bank is stating that inflation in Canada is higher and more persistent than expected and will likely remain around 8% for the next few months. The biggest drivers are […]
Inflation, affordability, and rates continue to be hot topics in Canada. With inflation hitting 7.7%, the highest since 1983, the Bank of Canada is expected to announce an oversized rate hike of 75 basis points next week on July 13th in an attempt to control inflation. With rates on the rise recently, home prices […]
After two years of record-breaking activity, extreme price increases and bidding wars, the housing market is starting to slow down to more normal levels largely due to the effects of rising rates. According to a recent RBC report, the Bank of Canada’s rapid pace of rate increases has set the stage for a 12.6% drop […]