Navigating the Current Real Estate Market: Interest Rates, Inflation, and Maturing Mortgages

by harmerwealth | Jul 18, 2024 | Financial Planning, First-Time Home Buyer, Interest Rates, Mortgages, Real Estate, Retirement

With a recent surprise drop in inflation in Canada to 2.7%, the financial landscape is poised for some significant changes. Experts anticipate that this drop in inflation will result in another minimum 0.25% decrease in the PRIME interest rate on the Policy Rate...

Bank of Canada: A 0.25% Decrease in PRIME Interest Rate

by harmerwealth | Jun 5, 2024 | Debt, Financial Planning, Interest Rates, Mortgages

Finally, some long-awaited good news from the mortgage market: the Bank of Canada has made its first rate cut of 0.25% to PRIME. This change is set to have a significant impact on homeowners across the country. If you’re a Variable mortgage or loan holder,...

New Canadian Mortgage Charter: A Beacon of Relief for Homeowners Facing Rising Interest Rates

by harmerwealth | Nov 22, 2023 | Mortgages

Understanding the Charter In a bold move to assist homeowners grappling with soaring interest rates, the Canadian government has introduced the New Canadian Mortgage Charter. This initiative marks a significant step towards offering substantial relief to those facing...

Mortgage Renewals & Refinances in a High Interest Rate Environment: You’re Not Alone, And We’ve Got Solutions

by harmerwealth | Aug 18, 2023 | Debt, Interest Rates, Mortgages

Mortgages, whether you’re a first-time homeowner or seasoned property veteran, can sometimes be a cause for concern, especially in a high-interest rate environment. We know that many of you are anxious about the looming prospect of renewing or refinancing your...

Declining Inflation: A Silver Lining for Canadian Mortgage Holders and Borrowers

by harmerwealth | Jul 18, 2023 | Debt, Interest Rates, Mortgages, Uncategorized

In a refreshing turn of events for Canadians, the inflation rate has dipped to 2.8% in June, according to the latest consumer price index report from Statistics Canada. This is the first time in over two years that the rate has fallen within the Bank of Canada’s...

Canada’s Inflation Rate: A Slight Increase in April and its Impact on Policy Rates and Mortgage Holders

by harmerwealth | Jun 4, 2023 | Debt, Interest Rates, Mortgages, Real Estate

Canada’s inflation rate came in at disappointing 4.41% for April, compared to 4.3% for the month of March. This minimal change has led to a resurgence of fear that the Bank of Canada will continue its increase to policy rates. Any increase to policy rates results...