Over the past two weeks, bond yields have dropped more than 30 basis points (0.30%). Historically, this would lead to lower fixed mortgage rates since bond yields significantly influence their pricing. Yet, many lenders, including three of Canada’s Big 5 banks, have done the opposite—raising their fixed mortgage rates. What’s Happening with Fixed Mortgage Rates? […]

Despite recent declines in mortgage rates, Canadian real estate activity has not yet seen a significant boost, according to the latest data. National Home Sales Sluggish In July, national home sales dropped by 0.7% compared to June, according to the Canadian Real Estate Association (CREA). Although activity is still 4.8% higher than it was a […]

As millions of Canadian homeowners face mortgage renewals in the near future, many are feeling the pressure of higher payments due to persistently high interest rates. Advice for Homeowners Facing Mortgage Renewals According to the Canada Mortgage and Housing Corporation (CMHC), around 2.2 million mortgages are set to renew in 2024, representing over 45% of […]

1. Economic Slowdown: When the Canadian economy isn’t growing as expected, signs might include lower GDP growth, reduced consumer spending, and decreased business investments. In such a scenario, the Bank of Canada might lower interest rates to stimulate economic activity. Lower rates make borrowing cheaper for consumers and businesses, encouraging them to spend and invest […]

New Capital Gains Tax in Canada: Easy-to-Read Overview Starting June 25, 2024, Canada will change its capital gains tax policy. The inclusion rate will rise from 50% to 66.67% for individuals with annual capital gains over $250,000. For corporations and most trusts, this new rate will apply to all capital gains without any threshold​ (Canada.ca)​​ […]

First-Time Homebuyers Increasingly Rely on Gifted Down Payments In recent years, first-time homebuyers in Canada have increasingly turned to gifted down payments from family members to enter the housing market. This trend has been fueled by a combination of soaring home prices, stagnant wages, and stricter mortgage lending rules, making it more difficult for young […]

Curious about the 30-year amortization? Here’s why it’s a game-changer for Ontario clients! 🏡 By spreading your mortgage payments over 30 years, you significantly lower your monthly payments. This means more cash in your pocket each month for savings, investments, or enjoying life. 💸 With lower monthly payments, you can also qualify for a higher […]

A recent report from CIBC and Urbanation reveals, majority of new condo investors in the Greater Toronto Area are losing money every month. 🔹 Key Findings: 82% of investors with mortgages on newly completed condos are cash-flow negative in the first half of 2024. This is up from 77% last year and significantly higher than […]