And its broker partners will have access to it
The Toronto Real Estate Board will be making recommendations to the city’s budget committee today in a bid to tackle housing affordability.
Finance Minister Joe Oliver has assured Canadians there is no housing bubble developing, despite record low interest rates that may entice some buyers to purchase more home than they can likely afford.
It’s been a whirlwind week following the Bank of Canada’s announced rate change and the industry could be in for even more disruption come March, according to a growing chorus of financial institutions predicting further cuts.
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More Canadians are considering become homeowners as lower interest rates make it even more attractive.
The International Monetary Fund says that Canada’s housing market is up to 20 per cent overvalued.
The Canadian dollar is under even more pressure after the release of weaker-than-expected economic data on Friday.
For those looking for the ultimate in downsizing living in a box could be the answer.
One big bank has offered an explanation for why its prime rate doesn’t match the Bank of Canada’s overnight rate, but brokers aren’t exactly sold.
Despite rate slashes from conventional lenders, many private mortgage providers haven’t budged on rate and brokers may not buy their reasoning for holding out.