Economists predict the Bank of Canada will cut interest rates to 2% or lower due to ongoing economic weakness. Following a recent 50-basis-point cut, the benchmark rate stands at 3.75%. Analysts highlight concerns such as excess supply, low GDP growth forecasts, and rising unemployment, which is expected to reach 7%. The Bank's neutral rate is estimated between 2.25% and 3.25%, indicating that...
Canada’s inflation rate hit the central bank's 2% target in August, fuelling rate cut expectations. Consumer prices fell by 0.2% MoM, with annual inflation easing from 2.5% to 2%....
Evaluate brokerages deeply by asking questions about lender access, compensation, and the size of the brokerage. Ensure the brokerage offers advanced deal processing technology, transparent fees, and solid marketing support....
Roof Inspection - Look for signs of damage or aging - Conduct up-close assessments, not just visual checks - Ensure no unforeseen expenses post-purchase - Verify roof and structural warranties Foundation and Structure - Look for cracks, settling, or moisture infiltration - Assess structural integrity - Identify deferred maintenance issues early...
This beautiful townhouse is Just one year old. It is a great location and is close to lots of amenities. Three levels are finished with hardwood stairs throughout and engineered laminate flooring. Open concept main floor with kitchen, quartz counters in Kitchen, dining area and spacious living area. Powder room on this level. Upper level has three bedrooms,...
The Canadian Real Estate Association's quarterly forecast indicates a mixed outlook for the housing market. While national home sales are expected to recover modestly with a 5.2% increase in 2024, affordability challenges persist. Interest rate cuts have led to slight sales increases, but consumer sentiment remains low. September saw a 6.9% rise in home sales year-over-year, yet prices are down...
The Bank of Canada (BoC) cut interest rates by 50 basis points, reflecting concerns about a slowing economy and deflation risks, as inflation fell to 1.6% in September. Employment growth is lagging behind population growth, with a year-over-year increase of 1.5% in employment compared to a 3.6% rise in population. While the rate cut is seen as positive, a tangible recovery in the commercial real estate...
Mortgage market watchers anticipate Bank of Canada interest rate cuts will increase market activity in upcoming months.The Bank of Canada cut its benchmark rate by 25 basis points for the third consecutive time....
Interest rate cuts are boosting homebuying optimism, making homes more affordable for Canadians. 13% of Canadians plan to buy homes soon, up from 11%, especially among younger buyers....
On December 15, 2024, the federal government will implement mortgage rule changes aimed at easing home purchases for insured mortgage borrowers. These changes are expected to boost Canadian home sales and prices in 2025, although their effectiveness may be limited by affordability issues. Key changes include extending the maximum amortization period for first-time buyers from 25 to 30 years and raising...