Overview: a look at the June 2023 GTA housing market numbers, including sales, prices and listings, plus the impact of the BoC’s latest interest rate decision. After holding steady since January, interest rates finally rose last month. What impact did that have on the housing market? And what affect will…
Tag: variable rate mortgages
January 2023 Interest Rate Hike & Forecast
Overview: a look at the January 2023 interest rate hike, including its impact on Toronto home sales, prices, inventory and mortgages, plus predictions for future rate increases. On January 25, the Bank of Canada (BoC) raised its overnight lending rate by 25 basis points to 4.50%. Although that was the…
Fixed Vs Variable Mortgages: Everything You Need To Know
Variable or Fixed Mortgage – Which Is Better? Since July 2017, the Bank of Canada has raised its key overnight rate four times. It currently stands at 1.5%, while the prime lending rate of big commercial banks is 3.70%. This has left many homeowners wondering which is better: fixed or…