Tag: mortgage renewals
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Bank of Canada Raises Interest Rate to 2.5% as Governor Warns Inflation Could Spread Across Canada
Canada’s central bank has raised interest rates for the first time in a year, bringing its benchmark rate to 2.5% as concerns grow over persistent inflation and rising energy prices. The Bank of Canada announced a 0.25 percentage-point increase to its policy interest rate on October 28, 2026, raising it from 2.25% to 2.5%. Governor…
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Ontario Consumer Insolvencies Hit Highest Level Since The Financial Crisis
Consumer debt stress continues to climb across Ontario, and new data suggests financial pressures are reaching levels not seen since the aftermath of the 2008 Global Financial Crisis. According to the latest figures from the Office of the Superintendent of Bankruptcy (OSB), Ontario recorded its second-highest number of consumer insolvencies ever for the month of…
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Canadians Falling Behind on Mortgages and Loans, Says Equifax
A recent Equifax Canada report reveals a significant increase in mortgage and loan delinquencies across Ontario, highlighting growing financial strain among homeowners. In the first quarter of 2025, Ontario’s 90+ day mortgage delinquency rate rose to 0.24%, marking a 71.5% increase compared to the same period in 2024. This surge is attributed to homeowners facing…
