Tag: finance
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76% of Canadians who don’t own property view homeownership as currently unachievable according to a recent survey by CIBC
A recent survey conducted by the Canadian Imperial Bank of Commerce (CIBC) has highlighted a stark reality: a significant majority of Canadians who do not currently own property find the prospect of homeownership increasingly unattainable. Despite 56% of non-owners still harboring the aspiration to own a home one day, a whopping 76% believe this goal…
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The Bank of Canada holds interest rates steady at 5.00% on March 6, 2024
On March 6th, the Bank of Canada shared some good news for homeowners and those considering buying a home soon: interest rates will remain unchanged. This decision keeps the overnight rate at a steady 5.00%. This move was anticipated in our latest interest rate forecast, owing to signs of slowing inflation and a softer economy.…
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Bank of Canada to slash interest rates in half by end of 2025, predicts Desjardins
In a move anticipated to bring significant financial relief to Canadians, the Bank of Canada is gearing up to initiate a series of interest rate reductions starting this spring. According to Desjardins Group, this strategic adjustment aims to alleviate the economic strain experienced by many, marking a shift towards more accommodating monetary policy. Desjardins Group’s…
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Canada CPI inflation falls to 2.9% vs. 3.3% expected
Mortgage interest costs continued to be the #1 driver of inflation Recent data from Statistics Canada reveals a decrease in the inflation rate for January to 2.9% from December’s 3.4%, which was below the expected 3.3%. This change is significant for those interested in the Ontario housing market, suggesting a shift in economic conditions. Highlights…
Canada Housing Market 