Boc Cuts Policy Rate Amid Trade War Turmoil
The Bank of Canada (BoC) has announced its seventh consecutive rate cut, lowering the overnight lending rate from 3.00% to 2.75%. This move brings the retail prime rate—the rate consumers pay—down from 5.20% to 4.95%. For variable-rate mortgage holders, this means lower payments. Specifically, for every $100,000 of mortgage principal, payments will decrease by ...
Do Accessory Dwelling Units (adus) Add Value to Your Toronto Home?
Do Accessory Dwelling Units (ADUs) Add Value to Your Toronto Home? Here’s What You Need to Know! Toronto homeowners are buzzing about Accessory Dwelling Units (ADUs). Whether it’s a laneway house, garden suite, or coach house, these secondary units offer extra space, potential rental income, and an opportunity to maximize a property’s value. But ...
The Bank of Canada Kicks off 2025 with a Rate Cut—what’s Next
The Bank of Canada (BoC) has officially cut its policy rate by 0.25%, a move that markets widely expected. But from here, things get more complicated. How will the Canadian economy respond to ongoing tariff talks and uncertainties surrounding the new U.S. President? The BoC outlined its perspective in the Q1 2025 Monetary Policy ...
Financing Laneway Houses in Toronto: a Game-changing Opportunity
Laneway houses have become a rising star in urban living. These compact, stylish, and functional homes are popping up everywhere in neighbourhoods like Leslieville, Toronto. They’re not just trendy—they’re a solution to some of the city’s most pressing challenges, such as affordable housing and better use of urban spaces. If you’re wondering why laneway ...
Boc Delivers a Jumbo 50bps Rate Cut
BoC delivers a 50bps rate cut just in time for the holidays. This morning, all eyes were on the Bank of Canada as they announced their final interest rate decision for the year. 👉 Click here to read the full Bank of Canada press release. The lead-up to today’s announcement was anything but predictable. ...
Defining Who’s a First-time Home Buyers (fthbs)
Exciting changes are coming for first-time home buyers (FTHBs) in Canada! Starting December 15, 2024, new rules will allow first-time homebuyers to extend their amortization to 30 years. This applies to those who put down less than 20%, making it easier for many Canadians to own homes. It lowers their monthly payments and helps ...