Mortgage Logic

Housing Market

Bank of Canada raises its Key Rate by 0.75% today

Today the Bank of Canada has increased its key overnight lending rate to 3.25%, a 0.75% increase.  Overall, this year the BoC has raised its key rate by 3.0% since March, rivaling the mid-1990s in rate increases.  Per the BoC: “The Governing Council remains resolute in its commitment to price stability and will continue to …

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June 1 2022 – Bank of Canada Raises Key Rate – How To Survive and Thrive Post Recession.

June 1 2022, the Bank of Canada raises Key Rate. Today the Bank of Canada (BoC) decided to raise its key rate by 0.50% to 1.50%, which will cause the Prime Rate at major Financial Institutions (FI’s) to increase the same to 3.70%.  Economists are now mentioning the word “stagflation” which we have not heard …

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Annual Surtax on High Value Houses…A Really Bad Idea for the Canadian Housing Market & Economy

Taxes have never achieved anything good for an Economy or a Society and certainly have never achieved the objective that they were originally dreamt up for.  They are punitive and negative and discourage raising the overall standard of living for all. A new report backed by Canada’s national housing agency is calling for a home …

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Bank of Canada changes its thoughts from higher rate to lower rate

Today the Bank of Canada (BoC), on their scheduled announcement date, decided to leave their key rate and not change it. They made it clear that there are no more thoughts of raising the rate this year. After taking stock of the past six months in the Canadian economy, they have no choice but to …

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Oliver to Realtors: “Ottawa Will Stay out of Market; No Bubble Seen.”

by Katia Dmitrieva and Josh Wingrove, Bloomberg News Canadian Finance Minister Joe Oliver said he’s confident the country’s housing market isn’t in a bubble, setting aside any further action to curb activity. The government, which has made four changes to housing finance rules since 2008 to cool booming sales and rising prices, is satisfied with …

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Canadians Prolific Buyers of Florida Property

Garry Marr, National Post The National Association of Realtors (U.S.) reported that Canadians spent US$2.2-billion on Florida real estate in 2013. This makes Canada the state’s No. 1 international buyer of real estate for the seventh consecutive year. Canadians comprised 31.6% of all international purchases in Florida. 89% of Canadians pay cash for their property …

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