The U.S. is officially out of financial crisis mode; the biggest economy in the world announced on Wednesday it is raising interest rates for the first time in nearly a decade - the long awaited “liftoff”. This opens a new chapter for recession recovery - but will Canada come along for the ride?
The U.S. Federal Reserve liftoff has arrived, announcing a quarter of a percentage hike to a range between 0.25 – 0.5%. This may be an American change - but Canadians - and what we pay for our loans and mortgages - could be affected. Read on to see how our cost of borrowing could change.
Read Penelope’s Blog | U.S. Federal Reserve Liftoff
Planning to buy a high-priced home? Prepare to hand over more cash. The Liberal government, in efforts to cool rising debt and prices in Toronto and Vancouver, have increased the minimum home down payment to 10% from 5% on homes priced over $500,000. Will this send would-be buyers back to the savings drawing board?
Read Penelope’s Blog | Liberals Hike Minimum Home Down Payment
The Bank of Canada has put household debt on red alert, naming it the main concern in a major report released this week. The number of households with extreme debt - meaning a debt-to-income ratio of 350% and over - has doubled since the financial crisis. Here’s what these debt warnings mean for the average consumer.
Read Allan’s Blog | Dire Debt Warnings from the Bank of Canada
Foreign homeownership in Canada has been a concern of housing market critics as prices spike in certain neighbourhoods. The CMHC is now researching the impact, though many say the data is inconclusive. Read on for the full story.
Read Allan’s Blog | Foreign Home Ownership in Canada
What happens to debt when you get married? Whether or not you’re on the hook for your spouse’s debt can vary depending on the situation. Read on to learn more.
Read Amanda’s Blog | What Happens to Debt When You Get Married?
Canada condo starts have hit the highest levels since 1971, according to the latest data from CMHC. What does this mean for homebuyers? Read on for our breakdown.
Read Sean’s Blog | Canada’s Condo Starts Highest Since 1971