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The Bank of Canada (BoC) announced this morning that it is holding its overnight policy rate at 2.75%. As a result, most lenders’ prime lending rate will remain at 4.95%. This marks a pause in what had been a steady trend of rate cuts earlier this year. Why the Pause? While inflation […]

If your mortgage term is coming to an end this year, you’re not alone – millions of Canadians are in the same boat. With interest rates higher than they were five years ago, it’s more important than ever to explore all your options before signing a renewal. Here’s a quick […]

As we continue through the first quarter of 2025, the financial landscape has evolved significantly, influenced by the Bank of Canada’s latest decision to lower the overnight rate to 2.75%. This move, aimed at bolstering economic resilience amidst escalating trade tensions, has brought the prime lending rate down to 4.95%, […]

Recent developments have led to significant changes in the trade landscape that may impact the Canadian economy and mortgage rates. On February 1, 2025, U.S. President Donald Trump announced the imposition of a 25% tariff on imports from Canada, with a 10% tariff specifically on Canadian energy resources. However, after […]

Happy New Year! As 2025 begins, we’ve received some encouraging news from the Bank of Canada—a reduction in the overnight rate to 3% and an end to the practice of selling off assets, known as quantitative tightening. These steps aim to strengthen our economy and make borrowing more affordable. Impact […]

As we step into 2025, I wanted to provide you with an update on the current state of fixed and variable mortgage rates, along with some predictions for the years ahead. Whether you’re considering a new mortgage, refinancing, or simply staying informed, this information will help you make better financial […]

As we bid farewell to 2024, the Bank of Canada has gifted us a parting present that will keep giving into the new year—a substantial 50 basis point reduction in the overnight rate, now at 3.25%. This latest cut caps off a year of proactive monetary policy adjustments aimed at […]

People are confused—they hear rates are going down, but then they’re told fixed rates are going up. Here’s why: It’s tied to the U.S. election. Canadian bond yields have jumped over 61 basis points in just two months, and when bond yields rise, fixed rates usually follow. The good news? […]

In 2019, Canadians aged 35 to 44 had a debt-to-income ratio of approximately 250%. Given the rising cost of living and increasing mortgage sizes, it’s likely that this figure has grown since then. Many avoid discussing finances, even though open conversations can boost confidence and improve financial outcomes. With debt […]

The Canadian housing market is always changing, so it’s important to understand key financial terms – especially if you have a mortgage or want to buy a home. One of these key terms is the Prime Rate, which affects how much you pay on your mortgage each month. Let’s break down […]