The 2024 federal budget focuses on helping younger voters, particularly Millennials and Gen Z, navigate rising housing costs and inflationary pressures. However, the budget takes aim at wealthier Canadians with new tax measures, including an increase in the capital gains inclusion rate from 50% to 66.6% for gains over $250,000. This change will impact individuals […]

The federal budget for 2024 has prioritized housing, introducing $52.9 billion in new spending to tackle affordability challenges for young Canadians, particularly concerning homeownership. The budget projects a deficit of $39.8 billion this fiscal year, with a gradual decline to $20 billion by 2028-29. One significant change is the increase in the capital gains inclusion […]

The Canadian Real Estate Association (CREA) reported that national home sales remained steady in March, while new listings dipped slightly. Prices showed little movement, but CREA experts anticipate a stronger housing market in the upcoming months. There is significant demand for housing due to rapid population growth and first-time homebuyers’ concerns about potential price hikes […]

  The British Columbia government has revealed further details about its proposed house flipping tax, set to be introduced in spring with an effective date of January 1, 2025. The tax targets homes resold within two years of purchase, with exemptions for certain life events like death, divorce, or job relocation. Initial sales within the […]

Despite January’s unexpected drop in inflation, economists believe the Bank of Canada will likely delay its first rate cut until mid-year. Headline inflation in January came in at 2.9%, below expectations of 3.3%, attributed to lower energy and grocery prices. The Bank’s preferred core inflation measures also trended downward, with CPI-median easing to 3.3% and […]

In the latest update from the Canadian Real Estate Association, the housing market continues its path to recovery, with a notable surge in home sales between December 2023 and January 2024. This upward trend, amounting to a 3.7% increase nationwide, reflects a growing confidence among buyers despite lingering uncertainties. However, it’s important to note that […]

In 2023, Canadian mortgage holders faced challenges with a series of interest rate hikes by the Bank of Canada, impacting variable-rate borrowers and those renewing mortgages. While mortgage delinquency rates increased slightly, borrowers remained resilient. Looking ahead to 2024, about $251 billion in mortgages are set to renew, with an additional $352 billion in 2025. […]

Mortgage rates in Canada are experiencing a notable drop, with fixed rates below 5% for the first time since spring. The decline follows a substantial drop in bond yields, prompting mortgage providers to cut rates by 20-30 basis points. For instance, Butler Mortgage now offers a market-leading insured 5-year fixed rate at 4.99%, specifically for […]

The latest inflation report reveals positive developments, with the October Consumer Price Index (CPI) showing a decrease in year-over-year inflation to 3.1%, attributed to a decline in gasoline prices. Notably, rent prices accelerated, particularly in Nova Scotia, Alberta, British Columbia, and Quebec. Property taxes also rose, marking the highest national increase since October 1992. Despite […]

Senior Deputy Governor Carolyn Rogers of the Bank of Canada has advised Canadians to brace for the likelihood of prolonged higher interest rates, attributing the shift to global adjustments and the diminishing factors that kept rates low during the pandemic. Rogers stressed the importance of proactive adjustments to safeguard the financial system’s resilience, noting a […]