After months of reductions, the Bank of Canada is hitting pause. On May 1, the Bank of Canada (BoC) announced it is holding its key interest rate steady at 2.75%, ending a streak of seven consecutive cuts that began in…
Imagine buying a home and securing a single, steady interest rate for the next 30 years, keeping your mortgage payments predictable and consistent. If interest rates fall, you can refinance without major penalties. And if you choose to pay it…
Canada to allow 30-year amortization for first-time buyers' mortgages on new homes. The federal government has announced a pivotal update set to take effect on August 1st, permitting 30-year amortization periods on insured mortgages exclusively for first-time homebuyers purchasing newly…
In a steadfast move, the Bank of Canada has once again maintained its key interest rate at 5%, marking the sixth consecutive hold since July. This decision underscores the bank's cautious optimism, as it awaits more definitive signs of sustained…
The Montreal real estate market is poised for a dynamic spring. The first quarter of 2024 revealed a market full of vitality, predicting a prosperous real estate season. The stabilization of interest rates by the Bank of Canada was a…
New homeowners often face an unexpected financial obligation shortly after purchasing a home, known as the "welcome tax." This property transfer tax, issued by municipalities, can be a substantial amount, necessitating prompt payment, usually within 30 days of receipt. What…
Cash damming is a financial strategy that transforms personal debt, which typically does not benefit from tax-deductible interest, into business debt, where the interest paid is tax-deductible. This involves employing a line of credit to cover business-related expenditures. Eligibility for…
The Canadian government has decided to maintain the restriction preventing foreign individuals from acquiring residential properties within its territory until 2027, with the aim of addressing the housing affordability crisis affecting several cities across the country. Chrystia Freeland, the Minister…
In January 2024, the real estate market in Montreal and Quebec experienced a positive dynamic, marked by a significant increase in transactions and property prices. In the greater Montreal area, real estate transactions saw an 18% increase, with 2,077 properties…
For Canadian homeowners, navigating the landscape of insurance rates has become increasingly important, especially following the trends we observed in 2023. Last year, auto insurance rates saw a significant uptick, rising by 10% compared to 2022. Home insurance rates were…
