Since our last newsletter in late October, there have been a ‘few’ changes in the political and economic landscape which will have an impact on the Canadian mortgage world. The US election results, in favour of Donald Trump and the Republican party will likely have negative consequences for the Canadian economy, which is already underperforming our...Read More

Was it One or Two? We’re sure that everyone was up watching live with a big cup of coffee, but in case you missed the Bank of Canada announcement, the predicted “jumbo” cut has arrived. The overnight rate is now 3.75%, with the Prime Rate dropping to 5.95%. This marks four consecutive cuts, but it’s the first 0.50% reduction...Read More

More 30-year Mortgages & Higher Values For Insured Mortgages Finance Minister Chrystia Freeland announced Monday Canadians will be able to borrow for longer, while also increasing the maximum value for insured mortgages, potentially giving buyers more money in the housing market. Effective Dec 15th, 2024.  Cap on the maximum purchase price will increase from $1,000,000...Read More

Spurred on by weakening underlying trends in the Canadian economy, the Bank of Canada  cut its overnight policy interest rate by 0.25% to 4.25%. This is the third reduction we’ve seen this year and while all cuts have been modest, they are moving Canada towards more normalized interest rates.  We’ve summarized the Bank’s rationale for this decision below,...Read More