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Mortgage renewals in a rising rates environment

Housing market activity and prices have declined as per the latest market reports and the Bank of Canada continues to combat inflation with rate hikes that have been affecting the cost of borrowing. CIBC’s deputy chief economist, Benjamin Tal, describes what’s happening today as a reallocation of activity and a necessary adjustment after the record […]

Bank of Canada raises policy rate by 0.5%

Bank of Canada Raises Policy rate by 0.5%

The Bank of Canada has raised its policy rate by 0.5% as it continues its efforts to curb high inflation and rebalance demand and supply. This was an expected increase although experts were anticipating a larger rate hike of 0.75 %. The policy rate affects the cost of borrowing for various loans, including variable rate […]

Bank of Canada Raises Policy Rate By 0.75%

Bank of Canada Announcement Sept 2022

The Bank of Canada has raised its policy rate by .75%, an increase that was expected as the Bank continues its efforts to bring inflation down to more normal levels. This rate affects the cost of borrowing for various loans, including variable rate mortgages and lines of credit.  In the Bank’s announcement, it stated that the economy continues to […]

Different times call for different mortgage solutions

Rising rates and their effect on the economy, the housing market, and Canadian household finances, continue to be hot topics in Canada. Mortgage Alliance professionals are playing a key role answering questions and providing expertise and solutions for a wide range of customer unique situations, challenges, and opportunities. National home sales are down and average home […]

Bank of Canada raises its benchmark rate by 1%

Bank of Canada Announcement - July 2022

The Bank of Canada increased the policy interest rate by 1%, an increase that exceeded expectations and the largest since 1998, as the bank attempts to control high inflation.  The Bank is stating that inflation in Canada is higher and more persistent than expected and will likely remain around 8% for the next few months. The biggest drivers are […]

Buying or investing in today’s market

Investing in real estate

Inflation, affordability, and rates continue to be hot topics in Canada. With inflation hitting 7.7%, the highest since 1983, the Bank of Canada is expected to announce an oversized rate hike of 75 basis points next week on July 13th in an attempt to control inflation.    With rates on the rise recently, home prices […]

Understanding the effects of rising rates

After two years of record-breaking activity, extreme price increases and bidding wars, the housing market is starting to slow down to more normal levels largely due to the effects of rising rates. According to a recent RBC report, the Bank of Canada’s rapid pace of rate increases has set the stage for a 12.6% drop […]