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Canada’s Key Interest Rate Held at 1.75%

Rates on hold.jpg
Those with floating-rate mortgages or lines of credit have at least six more weeks (probably many more) before their rate could change.That’s because the Bank of Canada left its key lending rate unchanged at 1.75 percent, where it’s been for a year.But, the BoC did sound more concerned. In its statement today, it left the door open to a future ... Continue reading »

Home Prices Rebound, Taking Mortgage Payments Higher

concept illustration of housing prices increasing
The government stress test was an epic change that created serious drag for the housing industry. That drag has dissipated far quicker than many expected.Case in point: home prices. Price appreciation is back. Canada’s average home price just surpassed $500,000 for the first time since June, according to the Canadian Real Estate Association.But while rising home prices are great for ... Continue reading »