Found 5 blog entries tagged as Mortgage.

Bank of Canada Cuts Policy Rate to 2.50%: What It Means for Edmonton Real Estate

What Just Happened

On September 17, 2025, the Bank of Canada cut its overnight policy rate by 25 basis points, bringing it down to 2.50%. The Bank Rate now sits at 2.75%, while the deposit rate is 2.45%.This marks the Bank’s first cut since its summer pause, and many economists believe it could be the start of a modest easing cycle heading into 2026. Source: Bank of Canada

Why the Bank of Canada Cut Rates

The Bank cited a mix of slowing growth, softening labour markets, and cooling inflation as the main reasons:

  • Economic slowdown – Canada’s economy shrank by about 1.5% in Q2, with exports down sharply and business investment falling.

  • Inflation…

523 Views, 0 Comments

Read Full Post

Bank of Canada Rate Decision: September 17, 2025 Forecast – Will the Overnight Rate Finally Drop?

Here’s a look at why the Bank of Canada is likely to reduce interest rates for tomorrow's rate announcement, and what it means for you.

Why a cut is on the table

1) Inflation is back near target (and softening under the hood).
August CPI came in at 1.9% year-over-year, below expectations and essentially at the Bank’s 2% midpoint. Ex-gasoline CPI eased to 2.4%, while the Bank’s preferred core measures (CPI-median and CPI-trim) held around 3.1% and 3.0% and have been edging down. Markets took that as “permission” for a cut. 

2) Growth has rolled over.
Q2 GDP contracted at a –1.6% annualized pace, much weaker than Q1 and consistent with the Bank’s…

582 Views, 0 Comments

Read Full Post

Bank of Canada Cuts Policy Rate to 3%: Implications for Edmonton Homebuyers and Sellers

On January 29, 2025, the Bank of Canada reduced its policy interest rate by 0.25%, bringing it down to 3%. This marks the sixth consecutive rate cut, aiming to stimulate economic activity.

Impact on Homebuyers in Edmonton

For those looking to purchase a home in Edmonton, this rate cut offers several advantages:

  • Lower Mortgage Rates: A reduced policy rate often leads to lower mortgage interest rates, making home loans more affordable.

  • Increased Purchasing Power: With decreased borrowing costs, buyers may qualify for higher loan amounts, expanding their options in the housing market.

  • Improved Affordability: Lower monthly payments can…

807 Views, 0 Comments

Read Full Post

New Canadian Mortgage Rule changes

Major Mortgage Reforms Set to Make Homeownership More Accessible for Canadians

In a move to help more Canadians achieve their dream of owning a home, the federal government announced major mortgage reforms on September 16, 2024. These reforms are aimed at addressing the rising costs of homeownership, especially for younger generations like Millennials and Gen Z, who often face affordability challenges. Here’s a breakdown of the key changes and what they mean for homebuyers.

1. Extended Mortgage Amortizations

Starting August 1, 2024, first-time homebuyers purchasing newly built homes, including condos, can take advantage of 30-year insured mortgage amortizations. The goal of this change is to reduce the size…

694 Views, 0 Comments

Read Full Post

A model of a home with coins stacked around, Home financing

 

New Mortgage Rules And What It Means For You

(written November of 2016) 

 

Effective October 17, 2016 (announced on October 3, 2016), mortgage rules changed for you and every other Canadian. In an effort to get control of Canadians borrowing, and to help cool over-heated markets like Vancouver and Toronto, the Canadian Government implemented some new borrowing rules for Canadians who are purchasing homes.

So what was changed?

They have implemented what is called an interest rate “stress-test.” How it works, is: 

 “To help ensure new homeowners can afford their mortgages even when interest rates begin to rise, mortgage insurance rules require in some cases that lenders “stress test” a borrower’s ability to make their mortgage…

11592 Views, 0 Comments

Read Full Post