On January 20, the Bank of Canada published its Monetary Policy Report and announced that it will leave its target overnight benchmark rate unchanged at 0.25% and the Bank Rate will stay at 0.5%. This is good news for Ontarians planning to buy property or refinance as borrowing costs will continue to stay low.
Homeowners who want to be more environmentally friendly, save money, or both can make use of the CMHC Green Home Program. If you’re planning to buy, build or renovate this year and want an energy efficient home, you can get a partial refund on the cost of your mortgage loan.
The end of a year is when most businesses see a significant boost in cash flow. The holiday season is typically a time when businesses see an increase in foot traffic and online orders. But 2020 was far from typical, not least because Ontario was in an extended lockdown over the holiday period.