In its recent statement, the Office of the Superintendent of Financial Institutions (OSFI) noted it could make certain “adjustments” to its mortgage qualifying rate before the end of 2022. As a rule, each December, OSFI reviews the qualifying rate before the following busy spring...

Canadian Big 6 banks have increased their forecasts for the central bank’s rate hikes. Now, most of them predict another 1.25-1.50% hike by the end of 2022. The latest review came from RBC, following Scotiabank’s call that the Bank of Canada’s overnight rate will...

It looks like cooling in Toronto housing market is starting to spread to the province’s cottage country. “Step by step, sanity is coming back to our marketplace,” – says real estate veteran Annita Lanter. “You can feel that the wind is already changing.” While...

After a hike in bond yields seen last week, Canadian banks keep raising their fixed mortgage rates. RBC, TD and BMO raised their 5-year fixed rates by 0.20-0.25% to 4.39%. Such a decision follows an almost 0.10% increase in the Government of Canada 5-year...

The national labor market slowed down even as the unemployment rate reached a new record low level, pushed by a lack of new employees. According to Statistics Canada, the economy added 15,300 jobs last month, while economists expected 40,000 new positions. Such a small...