[ GTA home sales down 16% in June despite interest rate cut: TRREB ]
The Toronto Regional Real Estate Board says home sales in June declined 16.4 per cent from last year, with many potential buyers staying on the sidelines despite the highly anticipated Bank of Canada interest rate cut.
[ Bank of Canada Rate Cut In July Less Likely, But Can’t Be Ruled Out: BMO ]
Canadian inflation is demonstrating it can be a lot stickier than the central bank expected. Last week’s CPI report showed annual growth accelerated, reversing some of the Bank of Canada (BoC) progress on taming inflation. The move sharply lowered the odds of the BoC making another cut later this month, but there’s still a chance, according to BMO.
[ Canadian Mortgage Borrowers To Reduce Consumption Even After Rate Cuts: BoC ]
Canada’s sharp and unexpected rate hikes will continue to produce damage, even after rate cuts. A new staff research note from the Bank of Canada (BoC) shows the overnight rate is much higher than initially anticipated, reducing consumption for mortgage borrowers since the climb began in 2022. Rates are now being slashed and providing relief, but reduced consumption is seen through 2027.
[ Should you get a 30-year mortgage? ]
Signing a 30-year mortgage in Canada can be an attractive option for some home buyers in the face of relentless real estate prices and historically high interest rates. Specifically first-time home buyers and those now renewing their mortgages.
[ Over 100 Hamilton tenants face threat of eviction as landlord starts listing townhouses for sale ]
The for sale sign in front of Heather Mulryan's Hamilton townhouse is a constant source of dread. The 41-year-old single mom of two boys has rented her home on Hamilton's Mountain for 14 years but said she received a surprise letter from her landlord, DiCenzo Management, in April. The letter, delivered to all tenants, said the landlord will be selling the 36 units on Anna Capri Drive — and Mulryan's was among the first on the market.
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