Bullet Point Summary of Bank of Canada's October Interest Rate Announcement Bank of Canada: held overnight rate, 5%; Bank Rate, 5¼%; deposit rate, 5% Bank: continuing quantitative tightening policy Global economy: slowing; growth forecast: 2.9% (2023), 2.3% (2024), 2.6% (2025) US economy: stronger than expected China's economic activity: weaker than expected Euro area growth: slowed...
Buying a condo, a house or other types of real estate properties are unlike any other purchase. It requires a lot of paperwork and legalities. And because of the sale price involved, buying a home is also financially challenging and confusing. Here are some of the most common financial terms and phrases relevant to buying a condo or a house in Toronto. Getting Pre-Approved. Getting pre-approved...
2017 has been a turbulent year for the Greater Toronto Area housing market. With the sales on a decline and the prices of detached homes slouching from earlier this year it has been surprising to see the GTA condo market’s unrelenting resilience in the midst of it all. In fact, many including the market watchers will tell you that it’s a truly surprising turn of events considering all...
For Canadians, travelling to the polls has become second nature. Or at least it should be... but the alarming fact is that a growing number of Canadians are boycotting the whole process as they grow tired of the repeated call to action caused by numerous elections. The country is divided politically as it always has been, and will continue to be, which is a sign of a healthy democracy....
Here come the rate hikes…Bank of Canada raised the rate 25 basis points to 0.5% as expected after GDP growth numbers came in above expectations. We’ve had the lowest interest rates in history for 13 months so we’ve been a bit spoiled...pretty much knew there was nowhere to go but up! What about mortgage rates? Variable mortgage rates will begin to rise of course, but longer term...
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