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.
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…)
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.
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.
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.
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.
In Ontario, as in the rest of the country, people have been leaving the cities for homes in the suburbs and further afield for more space and green areas. Has this affected condo construction? How much did house sales increase? What happened to prices and what is the projection for 2021? Find out in the infographic below:
Want to buy a new home?
Start your prequalification/pre-approval process now!
GreenFlow Financial offers exceptional rates and many of our lenders provide warranties for up to the first year of your mortgage, all of which are optional.
The world is being hit by a debt tsunami. Canada has seen the most notable rise in debt to GDP ratio, according to a July report by the Institute of International Finance. An increasing number of Canadians will need to think about debt consolidation. (more…)
