Skip to content

Finance

Interest rates on new mortgages increasing, despite Bank of Canada rate drop

Interest rates on new mortgages increasing, despite Bank of Canada rate drop

Fixed mortgage rates hiked, discounts on variable rates slashed as banks desperately seek liquidity, while government intervenes
Canada’s big banks, credit union announce mortgage payment deferrals

Canada’s big banks, credit union announce mortgage payment deferrals

Big Six and Vancity offering up to six months payment free for mortgage holders unable to make payments due to pandemic
Ottawa to roll out $82BN economic stimulus package

Ottawa to roll out $82BN economic stimulus package

Federal government to offer $27 billion in direct support to struggling Canadians, plus $55 billion in tax deferrals
Commercial lenders increasingly averse to retail sector

Commercial lenders increasingly averse to retail sector

Nearly 40 per cent of lenders have wholly discounted retail assets from their portfolios, according to report

Mortgage stress test changes suspended indefinitely: OSFI

Following emergency Bank of Canada interest rate cut, financial regulator puts easing of mortgage stress test on ice
Emergency Bank of Canada rate cut will add fuel to housing sales

Emergency Bank of Canada rate cut will add fuel to housing sales

Some variable-rate mortgage holders will be paying rates as low as 1.95 per cent; mortgage stress test nearly nullified
Canadian reverse mortgage debt tops $4BN for first time

Canadian reverse mortgage debt tops $4BN for first time

Reverse mortgage debt increased 13 per cent over one year, as more seniors choose to stay in their homes
Bank of Canada slashes overnight rate by 0.5% in response to coronavirus

Bank of Canada slashes overnight rate by 0.5% in response to coronavirus

Economic uncertainty prompts first 50-point cut since 2008 recession; could result in increased buying power pushing up real estate prices
What it costs to build in Western Canada

What it costs to build in Western Canada

Altus Group survey of hard construction costs for commercial real estate shows prices are rising but are fairly consistent across major western cities
Condo owners face huge bills from massive strata insurance rate hikes

Condo owners face huge bills from massive strata insurance rate hikes

Strata property owners – and those who rent from them – are looking at unprecedented costs, while some strata buildings risk losing their insurance entirely