General Mitchell Goode 18 Jul
House Price Decline Accelerated in June Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. Home sales recorded over Canadian MLS® Systems fell by 5.6% between May and June 2022, taking second-quarter sales down sharply (see chart below). The actual […]
Read MoreGeneral Mitchell Goode 14 Jul
A Super-Sized Rate Hike, Signalling More To Come The Governing Council of the Bank of Canada raised its target for the overnight policy rate by a full percentage point to 2-1/2%. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure […]
Read MoreGeneral Mitchell Goode 7 Jul
It’s difficult to find timeless advice in the ever-changing world of personal finance but these five are about as close as you can get. 1. Start small and start early with investing Only around 5% of Canadians under 25 have a TFSA, which means 95% have already missed out on 7 years of compounded returns. […]
Read MoreGeneral Mitchell Goode 5 Jul
When it comes to shopping for your perfect home, it can be hard to find the exact one ready to go! If you are looking into a home that requires improvements, there is a mortgage product known as Purchase Plus Improvements (PPI). This type of mortgage is available to assist buyers with making simple upgrades, […]
Read MoreGeneral Mitchell Goode 23 Jun
Canadian Inflation Surged to 7.7% In May Canada’s consumer price index increased 7.7% in May from a year earlier, up from 6.8% in April, the fastest inflation pace since January 1983. The release confirms that the Bank of Canada is staring down the most dangerous burst of Inflation since it started targeting the consumer price index in […]
Read MoreGeneral Mitchell Goode 16 Jun
The benefits of using a real estate agent. The right real estate agent will help you through every step of buying or selling your home. Like any relationship, you want to ask questions, get to know your agent before agreeing to have them work with you. Let’s take a look at some of the things […]
Read MoreGeneral Mitchell Goode 16 Jun
Housing Market Correction Gains Steam in May Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, national home sales dropped by 12.6% monthly (m/m). National home sales fell by 8.6% between April and May, building on […]
Read MoreGeneral Mitchell Goode 2 Jun
Another Jumbo Rate Hike, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points once again today, marking the third rate hike this year. The two back-to-back half-point increases are without precedent, but so were the dramatic pandemic rate cuts in the […]
Read MoreGeneral Mitchell Goode 24 May
9 Reasons People Break Their Mortgage. Did you know, approximately 60 percent of people break their mortgage before their mortgage term matures? While this is not necessarily avoidable, most homeowners are blissfully unaware of the penalties that can be incurred when you break your mortgage contract – and sometimes, these penalties can be painfully expensive. […]
Read MoreGeneral Mitchell Goode 19 May
Canadian Housing Market Feels The Pinch of Higher Rates Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates has broadened. In April, national home sales dropped by 12.6% on a month-over-month (m/m) basis. The decline placed the monthly activity at […]
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