Carney pledges to cut GST for first-time buyers of homes under $1M
Prime Minister Mark Carney is promising relief for first-time homebuyers by eliminating the GST on homes priced at $1 million or less. The new measure, unveiled in Edmonton just days before the expected launch of the federal election campaign, would save buyers as much as $50,000, Carney said. It also aims to stimulate new housing […]
Check Out These Charts from the Early 1900s
Today we’ll take a brief look at some mortgage rate history to gain a little context for where we stand today. It’s always helpful to know what came before so you can better guess what might come after. Just about everyone knows that mortgage rates hit all-time record lows in 2021. But do you know […]
Federal government promises $2.55B in low-cost loans to build Toronto rental homes
Ottawa says it will provide $2.55 billion in financing through its Apartment Construction Loan Program, to be administered by the Canada Mortgage and Housing Corporation. The city says the money will go toward building more than 4,800 rental homes, of which at least 1,075 will be affordable housing. Toronto, meanwhile, says it will offer nearly […]
If Mortgage Rates Don’t Move, They’ll Be Better in a Month
Lately, mortgage rates have been pretty flat. They enjoyed a nice string of six or seven weeks where they tumbled down from around 7.25% to 6.75% before losing steam. While it’s unclear what caused them to plateau, I’ve pointed to things like tariff talk and general uncertainty. It seems like we’re kind of stuck at […]
Inflation still too hot for the BoC to cut rates further: Scotiabank
February’s CPI report showed core price pressures exceeding expectations, raising doubts about further easing. StatsCan reported a 1.1% month-over-month jump in inflation, with the BoC’s preferred measures—trimmed mean and weighted median CPI—rising at an annualized 2.9%, up from 2.7% in January. While some of the increase was due to the temporary GST holiday, Scotiabank notes […]