Mortgage Rates Archives - The Molly & Claude Team

3 reasons the Bank of Canada may be set to pause interest rate hikes

March 6, 2023 by Claude Jobin

Interesting article on the CBC website pertaining to interest rate hikes.

Peter Armstrong, Senior Business reporter for the CBC News forecasts:

Annual inflation rate continues downward trend
Inflation is way down from last summer’s peak
Weak GDP bolsters case for pause in rate hikes

What you’ll need to earn to afford a house in Ottawa in 2023

February 21, 2023 by Claude Jobin

Ratehub.ca did an analysis of the income needed to purchase a house in different Canadian cities. At the moment the annual income required in Ottawa is $122,440.

Here is the annual income required for other Canadian cities:

Vancouver: $212,800
Toronto: $207,000
Victoria: $169,250
Hamilton: $159,100
Calgary: $105,680
Montreal: $103,560
Halifax: $102,260
Edmonton: $79,370
Winnipeg: $72,500

The end of interest rate hikes: What does it mean?

February 16, 2023 by Claude Jobin

The Business Development Bank of Canada (BDC) recently wrote a post The End of interest rate hikes: What does it mean?

Reaction to the Bank of Canada’s latest rate hike

January 27, 2023 by Claude Jobin

CityNews Everywhere has put together a post with reactions to the latest Bank of Canada rate hike.

4 Strategies to Stabilize and Fortify Your Real Estate Portfolio

January 20, 2023 by Claude Jobin

Dalia Barsoum, founder of Streetwise Mortgages provides four suggestions in order to stabilize and fortify your real estate portfolio:

Address cash flow pressures
Exit and private loans
Manage your interest rate exposure
Prepare a plan for success

Details here.

Bank of Canada raises interest rate

October 27, 2022 by Claude Jobin

The Bank of Canada raised the benchmark interest rate 50 points to 3.75 per cent. This is the 6th raise to attempt to calm inflation. Details here.

Effect of Rising Interest Rate and How to Cope

October 24, 2022 by Claude Jobin

With so many Canadians worried about the rising interest rates I share with you an article providing advise on how to protect yourself from rising interest rates.

Here’s our list of tips to consider:

Be careful with deferred payment plans. …
Pay off your debt as quickly as you can. …
Make sure you have a balanced budget. …
Make sure that your mortgage payments are affordable. …
Generate income with your home. …
Lock your mortgage interest rate in for many years.

Bank of Canada to Start Releasing Rate Decision Summaries Next Year

October 3, 2022 by Claude Jobin

To be more open and more transparent starting next year the Bank of Canada will be releasing rate decision summaries.

Haha, odd thing is I could not get this article on Reuters as they state I had reached the limit of free articles, but, I found the article on an American site.

Micro-condo mortgages

September 2, 2022 by Claude Jobin

CityNewsEverywhere reports on the nuances of financing a micro-condo. Financial institutions typically have a minimum size requirement, but as condo sizes keep dropping, those institutions will need to make adjustments. In the interim be aware that there may be extra hurdles when seeking financing. Details here.