Are you ready for the busiest home-buying season of the year? Spring has certainly sprung for the Canadian real estate market, as open houses pop up faster than the crocuses. Perhaps the most telling sign: Bank of Montreal, the big-bank trendsetter, has introduced a “March miracle”: a history-making rate for new mortgage borrowers that has since been matched by TD.
Meanwhile, the Canadian economy continues to absorb the impact from record-low oil prices – and not all provinces will emerge unscathed. Read on for the full story.
BMO Drops Their 5-Year Fixed Mortgage Rate to 2.79%
The first real sign of the spring buying season has arrived – BMO has introduced an aggressively low mortgage rate special for 5-year fixed term shoppers. Clocking in a 2.79 per cent, it is the lowest 5-year rate ever posted by one of Canada’s big banks – and TD has since matched it. What does this mean for those currently on the hunt for a mortgage?
Read Penelope’s Blog | BMO Drops Their 5-Year Fixed Mortgage Rate to 2.79%
Average Home Price in Canada Hits $430,000
The Canadian Real Estate Association reports the price of buying real estate continues to rise in Canada, hitting an average of $430,000. As affordability shrinks, how can prospective buyers manage to purchase their dream homes?
Read Allan’s Blog | Average Home Price in Canada Hits $430,000
Canadian Economic Forecasts Cut as Oil Drops
The squeeze from lower oil prices is being felt across the nation as two economic forecasters cut their forecasts to better reflect current chances for growth in Canada. Both RBC and OECD are calling for tougher economic times ahead amid plummeting crude. Meanwhile, Canadian consumers continue to rack up debt. Here’s what you need to know.
Read Sean’s Blog | Canadian Economic Forecasts Cut as Oil Drops
Behind On Your Taxes? What You Need to Know
Are you behind in your taxes? You could be facing a hefty late tax bill. Here’s how to take action, and reduce your penalties.
Read Gordon’s Blog | Behind On Your Taxes?
More Spastic Speculation Over the Bank of Canada
To say it has been an eventful year thus far for market and interest rate watchers would be an understatement. Pundits have been blindsided not once, but twice by the Bank of Canada on the direction for our national cost of borrowing… and it’s only March.
Read Penelope’s Blog | More Spastic Speculation Over the Bank of Canada
On for a 2nd week! Answer the following to enter for a $25 gift card!
What housing market do you live in – and can you afford a house there?