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Tag: Home Finance
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Reverse Mortgages: A Financial Solution Made for Today
May 28th, 2024: As the economic landscape continues to challenge retired Canadians, reverse mortgages are emerging as a viable financial solution. With soaring inflation and volatile equity markets, many retirees are struggling to maintain their standard of living on a fixed income. Traditional financial options like taking on debt or cashing out investments often come…
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June Rate Cut: A Close Call Despite Lower Inflation in April
May 21st, 2024: The economic landscape is constantly shifting, and one of the most closely watched indicators is the inflation rate. In April, Canada’s headline inflation rate eased to 2.7%, down from 2.9% in March. This reduction has sparked discussions about the possibility of a Bank of Canada rate cut in June. However, despite this…
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Understanding the Current Mortgage Rate Trends: A Closer Look
April 18th, 2024: As homeowners with variable-rate mortgages eagerly await potential rate cuts from the Bank of Canada, the fixed-rate market is witnessing a different trajectory: an upward trend. Since early October, Government of Canada bond yields, which serve as a leading indicator for fixed mortgage rates, experienced a significant drop of 125 basis points,…
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Empowering First-Time Buyers: Canada Extends Mortgage Amortization and RRSP Withdrawal Limits
In a recent announcement, Finance Minister Chrystia Freeland unveiled significant measures aimed at easing the path to homeownership for first-time buyers across Canada. Effective August 1, the federal government will extend the allowable amortization period for insured mortgages on newly constructed homes to 30 years, a welcome relief for many aspiring homeowners grappling with soaring…