The Bank of Canada announced yesterday that it is holding the overnight policy rate, signalling a pause in its easing cycle as it waits for clearer economic data heading into 2026. After several cuts earlier in the year, the Bank now believes the economy is approaching better balance, but lingering uncertainty—both global and domestic—means they’re not ready to move rates again just yet.
The Bank of Canada just lowered its key interest rate by 0.25%, bringing it down to 2.25%. This move was expected, but it’s still big news for anyone with a mortgage, or anyone thinking about buying a home. The Bank made this decision because the Canadian economy has slowed down more than expected. Business investment and exports have dipped due to global trade uncertainty, while inflation has eased closer to the Bank’s 2% target. In short, the economy needed a little boost — and lower rates are the Bank’s way of giving it one.
Bank of Canada Cuts Interest Rate to 2.25% — What It Means for You Read More »
Today, the Bank of Canada lowered overnight rate by 0.25%, bringing it down to 2.50%. This is the first cut since March 2025, and it comes as the bank notes a cooling in the economy, easing inflation pressures, and increasing risk from external trade pressures. Here’s what that means for people in Calgary—whether you’re a homeowner, a buyer, or someone in the mortgage business.
Calgary Homeowners & Buyers: What the Bank of Canada’s Rate Cut Means for You Read More »
In today’s real estate landscape, more people are turning to joint homeownership as a solution to rising prices and interest rates. This involves teaming up with friends or family members to buy a home together. While it sounds appealing, it’s crucial to approach this decision with careful thought and planning to ensure a positive experience.
Exploring Shared Homeownership: Buying a Home with Friends and Family Read More »
When you’re self-employed, the road to homeownership has a unique set of twists and turns. One significant challenge revolves around the variability of self-employed income. Unlike a traditional 9-to-5 job with a steady paycheck, self-employed individuals often experience income fluctuations.
Securing a mortgage is a significant step in the journey of homeownership, and understandably, many people initially focus on securing the lowest interest rate possible. While securing a low rate is important, it’s equally crucial to delve into the fine print and understand the various features that accompany mortgage deals. Beyond just the interest rate, mortgages can offer a plethora of sophisticated features that can significantly impact your home financing journey. In this comprehensive guide, we’ll explore some of these advanced features, offering insights into how they can benefit you in the long run.
Fire insurance serves a dual purpose in the mortgage journey. It acts as a safety net for lenders, ensuring property restoration in case of disasters, and safeguarding the asset supporting your mortgage. Simultaneously, it provides crucial protection for homeowners, covering costs in the event of a fire, and preventing financial ruin. Beyond financial security, having fire insurance brings peace of mind, allowing you to focus on creating a safe haven for your family amidst the responsibilities of homeownership.
Why You Need Fire Insurance When Getting A Mortgage Read More »
Embarking on the journey to buy a home is undeniably thrilling! Yet, amidst the excitement, there’s a crucial aspect you shouldn’t overlook – a house check-up, professionally known as a home inspection. Let’s delve into why this process is pivotal and how it empowers you to make informed decisions.
The Hidden Benefits of Home Inspections in Real Estate Read More »
Beyond the festivities, the new year often symbolizes an opportunity for reinvention—a chance to dream big and set ambitious goals. Many of us engage in the tradition of making New Year’s resolutions, envisioning a brighter future. However, let’s acknowledge the reality: while 80% felt confident in achieving their goals, only 6% stuck with resolutions from the prior year. What distinguishes those who turn aspirations into accomplishments?
New Year, New Triumph: Be Part of the 6% in 2024! Read More »
The mortgage industry is no stranger to twists and turns, and 2023 was a testament to its unpredictable nature. Variable rate holders faced a challenging year with three prime rate increases, totaling a 0.75% hike. As the year unfolded, fixed rates took mortgage holders on a roller coaster ride, making 2023 a memorable year for the real estate market. Now, as we stand at the cusp of 2024, it’s time to reflect on the past and prepare for what lies ahead.
