Canada’s housing market continues to slow down with August marking the second consecutive month of declining home sales. Tight demand and supply conditions have also eased, slowing home prices’ pace of growth. Inflation increased to 4% in August, up from 3.3 % in July, posing a persistent challenge for the economy and the Bank of […]
95% of borrowers opted for a fixed-rate mortgage in June 2023
Personally, I will always opt for a fixed mortgage rate over a variable rate. It’s a decision based on your risk tolerance and overall budget. In a research report by National Bank Financial, a record 95% of borrowers opted for a fixed-rate mortgage in June. This is largely due to the uncertainty around the Bank […]
3 in 10 Canadian homeowners regret their mortgage choice
With the sharp rise in variable interest rates over the past year, many homeowners are regretting their current mortgage decision due to affordability and the increased cost of living. If this sounds like you – let’s talk. While fixed rates aren’t much lower than a variable at this time, we can look at your overall […]
In the news: variable mortgage rates increase again
If you have a variable-rate mortgage, I’ve got some news for you. One part of it is bad, another part is good and the other part is complete speculation. Let’s get the bad news over first. As I’m sure you’ve heard, on January 25, the Bank of Canada raised its overnight target rate by 25 […]