New home sales in the GTA showed a 94% year-over-year increase Amid almost record high number of condo launches, the number of new homes sales in the GTA was almost twice larger in May than a year ago. According to the Building Industry and Land Development...

Balances on reverse mortgages showed a more than 28% increase Forget about HELOCs, as Canadian seniors have a new popular method to use their properties as a cash source. According to the Office of the Superintendent of Financial Institutions (OSFI), the balance of reverse mortgage debt rose...

BMO believes there’s no need for the central bank to cut rates Certain industry specialists say the Bank of Canada should cut its key lending rate again. There are a few reasons which could make the BoC do it. The main one is a global economic...

HELOC debts exceeded $300 billion for the first time in history According to the Office of the Superintendent of Financial Institutions (OSFI), Canadian homeowners showed a new debt record in April. It’s the first time that the balance of loans secured by residential real estate exceeded...

BMO CEO says low interest rates will remain for a long time According to the BMO CEO, Canadian consumers should be ready for low interest rates and inflation becoming a new normal. “We’ve seen changes, which were at the macro-level volatile during the previous two years,”...