In its economic and housing outlook released today, Oxford Economics is forecasting a mild recession by the end of the year will lead to an additional 10% decline in average house prices by early next year.
The Bank of Canada opted to leave interest rates unchanged today but maintained its hawkish bias, confirming it won't hesitate to hike rates further if inflation doesn't continue to trend downward.
Canada’s economy slowed more than expected in the second quarter, raising the likelihood that the Bank of Canada will leave rates unchanged at next week's policy meeting.
While the Bank of Canada's latest growth forecasts remain positive for the year ahead, Canadians aren't taking any chances.
While the pace of fixed-rate increases has slowed, lenders continued to bump mortgage rates higher this week, including three of the big banks.
Nearly half (47%) of Canadians buying or renewing a mortgage say they are concerned about qualifying for the amount they need.
As expected, the Bank of Canada delivered its first rate pause in a year following eight consecutive rate hikes.
Nearly 8 in 10 fixed-payment variable-rate borrowers have hit their trigger rate, according to data from National Bank of Canada.
The government unveiled details of its foreign buyer ban on residential properties earlier this week, just days before the rules are set to take effect.
With bond yields nearly 60 basis points off their highs reached earlier this month, fixed mortgage rates are slowly following and trending downward.
