Bank of Canada Makes Interest Rate Announcement

Bank of Canada’s Overnight Rate On December 9, the Bank of Canada maintained its target for the overnight benchmark rate at 0.25% As was widely expected, the Bank of Canada has maintained its key interest rate target at 0.25% after aggressively cutting it earlier this year in response to the global pandemic and its economic aftershocks. While a COVID-19 […]

Will Canadian Real Estate Prices Cool This Winter?

The COVID-19 pandemic shook the Canadian (and global) economy, causing business closures and job losses across many industries. But the public health crisis has failed to drive a stake through the Canadian real estate market – so far. Despite a slowdown at the height of the pandemic earlier this year, the nation’s housing sector has […]

Real Estate Terms: RE/MAX Homebuyer’s Glossary

Buying a home is a huge commitment and one of the biggest financial investments you’ll ever make. If you’ve never done this before, you can expect to get hit with a barrage of real estate terms and jargon that might leave your head spinning. Your RE/MAX agent is there to guide you through the process, but for the keeners […]

Mortgage Stress Test Changes Won’t Fix Affordability Problem

The federal government has announced changes to the OSFI mortgage stress test in 2020, which will make qualifying for a mortgage easier. However, experts expect that the changes will have little impact on housing affordability in Canada’s most-active and expensive markets. Starting on April 6, the Department of Finance will employ a new method of calculating a borrower’s qualification […]

RE/MAX releases Canadian housing market outlook for 2020

Average home price expected to rise by 3.7% next year • Increased consumer confidence could be a key factor affecting the housing market in 2020• 51% of Canadians are considering a home purchase in the next five years, up from 36% at the same time last year• Only two in 10 Canadians say that the […]

Breaking Down the Housing Debate

The original article link : Author: Christopher Alexander, Executive Vice President and Regional Director, RE/MAX INTEGRA, Ontario-Atlantic Canada The 2019 federal election is fast approaching, and the housing debate continues to be a hot topic in the country. A national housing strategy that’s assessed annually and updated based on economic markers and buying trends […]