According to the Bank of Canada’s recent Market Participants Survey, Canada’s benchmark interest rate is anticipated to remain at 5.00%, the highest level in over two decades. In this article, we’ll explore the insights provided by the survey, which sheds light on the financial market participants’ views on interest rates, inflation, and the country’s […]

In a significant move, the Governing Council of Bank of Canada decided to increase interest rates by 0.25 percentage point in July, marking the 10th rate hike. This decision was driven by concerns that delaying action until September could pose risks to the nation’s economic stability. The Council’s decision was largely influenced by the projection […]

In Canada’s dynamic mortgage market, fixed-rate mortgages are experiencing a recurrent upward trend. This surge is largely attributed to the recent increase in Government of Canada bond yields, which serve as the benchmark for pricing fixed-rate mortgages. Leading mortgage lenders, including prominent banks such as BMO, CIBC, and RBC, have responded to this shift by […]

The housing affordability crisis in Canada has become a daunting challenge for numerous citizens, rendering homeownership an elusive dream. The Canada Mortgage and Housing Corporation (CMHC) highlights the urgency of adding 3.5 million housing units by 2030 to restore affordability. As the debate on short-term relief measures intensifies, experts offer varying perspectives on potential solutions. […]

In exciting news for the Canadian mortgage industry, BMO is set to re-enter the mortgage broker channel with the launch of BMO BrokerEdgeTM in early 2024. This strategic move comes after a hiatus of over a decade, and it aims to revolutionize the broker market by providing unparalleled value and a seamless experience to brokers […]

Headline Inflation Slows Down Canada’s economy experienced a notable development in June, as the headline inflation rate slowed down to 2.8%, marking its slowest pace since March 2021. This decrease was surprising to many, as it fell below the market’s expectations of a 3% reading. On a monthly basis, the increase in headline inflation was […]

Canada is experiencing a remarkable surge in housing demand, driven by its population boom, which has led to soaring home prices. As the historical gap between population growth and property price increases widens, experts predict that this trend will intensify in the years to come. With record-breaking immigration numbers and increasing house starts, the Canadian […]

In the past couple of weeks, mortgage lenders, including prominent institutions among the Big 6 banks, have experienced a notable upswing in mortgage rates. This surge can be attributed to a substantial increase in the Government of Canada 5-year bond yield, a crucial determinant of fixed mortgage rate pricing. As of Monday, the yield reached […]