Economic Insights from Dr. Sherry Cooper
The impact on the economy of higher interest rates has a long lag. The full effects of the tightening will not be evident for a few more years. Given that most Canadian mortgage borrowers renew their mortgages every five years, the largest impact is yet to come. Nevertheless, higher interest rates have slowed the most interest-sensitive sectors.
Teaching Kids About Money
Not only does financial literacy help your children have more success in life, but it allows them to move out sooner and it avoids delaying your retirement with additional expenses to support them.
Beware of Condition-Free Real Estate Offers
When it comes to purchasing a home, most offers include “conditions” (or “subjects” if you are in the provinces of
Planning to buy your first home in Canada?
The Canadian government has recently launched an incentive to assist with the down payment of your first home.
A tax-free registered account to help first-home buyers
From April 1, 2023, as a first-home buyer in Canada you are eligible to register for a tax-free First Home Savings Account (FHSA).
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening.