Economists believe the Bank of Canada has a possibility to end its interest-rate increasing cycle in the nearest future even if the Federal Reserve continues to raise its borrowing costs in 2023. According to the recent poll by Bloomberg, the Governor Tiff Macklem and his team have a possibility to keep their...

Canada’s real estate market has been facing some serious turbulence: record low interest rates during the pandemic pushed prices and sales to extremely high levels, then the central bank’s rate increases since March caused equally shocking consequences. No wonder that in July, RBC economists...

Sal Guatieri, director and senior economist at BMO Capital Markets, believes that recent reports pointing to strong economic growth in the third quarter will probably lead to further interest rate increases by the Bank of Canada. In his opinion, the Statistics Canada’s new data...

The latest report by Ratehub says a homebuyer in 2022 would pay about 250% in interest during the first year of the mortgage compared to the amount a buyer would pay last year. In October 2021, the amount paid in interest during the first...

Canadian banks are trying to help homeowners who are facing issues with the sharp interest rate increase. The banks offer extending mortgage amortizations and sometimes adding unpaid amounts to the borrower’s loan principal. While such ways can help you avoid mortgage default in the...