For many Canadians, buying a home is a significant financial goal. When you purchase a home, this usually involves huge financial commitments, and thus, you need to be capable of bearing all the associated costs that come with a mortgage. For this reason, the Canadian government has taken steps to ensure that homebuyers can afford current and future mortgage payments by introducing the mortgage stress test.
The GreenFlow Financial Blog
Bank of Canada Announcement July 14: Key Takeaways
On July 14, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until the inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank Rate remains at 0.5% and the deposit rate at 0.25%.
Quantitative easing (QE) has been adjusted to the target pace of $2 billion per week.
Bank of Canada Announcement June 09: Key Takeaways
On June 9, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until the inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank rate stays at 0.5% and the deposit rate at 0.25%.
What’s New in the Market? May 2021 – An Infographic
Market Update - May 2021
What is in store for the residential market in 2021? Many have been investing in the housing market leading to an increase in sales within the community. Take a look at the following infographics to learn more about the recent ongoings in the housing market.
Bank of Canada Announcement
Bank of Canada Announcement
The Bank of Canada has decided to hold on to lower overnight rates of 0.25% with a bank rate of 0.50% and a deposit rate of 0.25%. The Bank maintains exceptional forward guidance on the path of the overnight rate, reinforced and supplemented by the Bank's quantitative easing (QE) program.
Bank of Canada Announcement: Key Takeaways
On March 10, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank Rate stays at 0.5% and the deposit rate at 0.25%. (more…)
Alternative Mortgage Lenders: Why business owners should consider them
Business owners have had to weather a series of challenges since early 2020. They’ve had to contend with restrictions and lockdowns, supply chain disruptions, changes in consumer spending habits and more. Many businesses have had to close permanently because it has been financially impossible for them to remain open.
What’s driving real estate demand?
According to Mortgage Professionals Canada's report 'Rapidly Evolving Expectations in the Housing Market', there has been no change in Canadian's desire to be homeowners despite the pandemic. Instead, there has been an increase in the number of Canadians who plan to buy their first home within the year and a drop in the percentage of those who expect to never buy a home.
Improve Cash Flow: use the ultimate appreciative asset
As business owners focus on short- and medium-term cash flow, the long-term can slip into the background sometimes. Owning appreciate assets, such as real estate, can make considerable difference to a business' long-term strategy to improve cashflow.
The Bank of Canada expects the economy to rebound in the second quarter of 2021. This first quarter, because of the shutdown, will be a difficult time for businesses.
Bank of Canada: Projections for 2021
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.
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