Following Wednesday’s interest rate increase by the Bank of Canada, big banks raise their lending rates. RBC, TD Bank, BMO, CIBC, Scotiabank, and National Bank decided to increase their prime rate from 5.95% to 6.45% after the central bank’s recent hike. The decision is...

The latest report by RBC says rentership is growing much faster than homeownership in Canada: the number of renters has been rising at three times the pace of homeowners during the previous 10 years. While homeowner households still dominate the real estate market by a two-to-one...

Today, the Bank of Canada has announced one more overnight rate increase of 0.50%. As a result, the rate has exceeded the 4% threshold for the first time since 2008. The Bank’s increase (the seventh in a row) has pushed the policy rate to...

Growing interest rates keep affecting the housing market of the Greater Toronto Area with home sales, listings, and the composite benchmark price falling both annually and monthly last month. The latest report by the Toronto Regional Real Estate Board shows that GTA home sales were down by 49% in...

On Wednesday, the Bank of Canada is expected to raise its key lending rate for the seventh time in a row. However, experts have less certainty on the size of the next hike: will it be a 0.25% or 0.50% increase? “Policymakers haven’t clarified...