Finance
Opinion
When Will Rates Drop? It Depends On Who You Ask
What many Canadians may be unaware of is that fixed interest rates have already dropped 75 basis points from their peak last fall.
Mar 06, 2024
Mortgages
Mortgage Delinquencies Surge 135% In Ontario, 62% In BC
Canada-wide, mortgage delinquency rates have risen more than 52% over a 12-month course, new data from Equifax shows.
Economy
For The Fifth Time, Bank Of Canada Holds Interest Rate At 5%
Although inflation ticked down in January, the BoC has long maintained that a sustained trend of low inflation needs to be seen before rate cuts can be considered.
Economy
Bank Of Canada Will Be ‘Watching Housing Carefully’ As It Deliberates Cuts To Come
Experts say that the Bank of Canada will be careful not to do or say anything that might trigger the spring housing market.
Insider: Rate Cuts A Must For Housing Supply (And They Can’t Come Soon Enough)
The data shows it is completely plausible — and possible — to serve tens of thousands of new housing units into the market in the coming months, just by lowering rates.
Mortgages
“Dead On Arrival”: CMHC Ends First-Time Home Buyer Incentive
An update provided on CMHC’s website confirms that the incentive is being “discontinued,” and notes that the deadline for new or updated submissions is March 21, 2024.
Taxes
Toronto Vacant Home Tax Declarations Due Tomorrow
Toronto homeowners have until tomorrow to declare the 2023 occupancy status of their property — or face a fine.
Finance
Kerrisdale Property Assessment Increases Shock Business Owners
BC Assessment has issued property assessment increases of around 25% on several retail properties along West 41st Avenue, near West Boulevard, all of which will come into effect this July.
Finance
Income Needed To Buy A Home Down Almost $8K In Toronto, $10K In Vancouver
On top of softer mortgage rates, home prices have “chilled” across many major markets.
Economy
Canada Still On Track For Spring Interest Rate Cut: Economists
“We expect five 25-basis-point cuts to the Canadian and US overnight rates this year, with further easing likely to follow in 2025.”
Mortgages
Renewing Your Mortgage in 2024? Here's How To Prepare
We spoke with Clay Jarvis, a mortgage and real estate expert at NerdWallet, to discuss what Canadians can do to prepare for a mortgage renewal in 2024.
Economy
Canada In Store For 1.25% Interest Rate Cut In 2024: CIBC
In its latest provincial forecast, CIBC Capital Markets predicts that the country could be in store for a 125-basis-point rate cut this year.
Taxes
Toronto Passes 2024 Budget, 9.5% Tax Hike For Residential Properties
City Council voted in favour of the 9.5% increase to the residential property tax rate when they met on Wednesday to finalize the 2024 budget.
Taxes
Housing Market ‘Weakness’ Pulls Ontario Land Transfer Tax Revenue Down By $119M
Ontario is projecting to end the year with a $4.5B deficit, the Province’s third-quarter finances also show.
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