As expected, the central bank held the overnight rate at 4.5%, ending, for now, the eight consecutive rate increases over the past year.  The Bank is also continuing its policy of quantitative tightening.  This is the first pause among major central banks.  The surge in interest rates has markedly slowed housing activity.  “Restrictive monetary policy […]

Understanding & Improving Your Credit Score If you are looking for ways to better your financial life, one of the first tasks you should be focusing on is how to improve your credit score. Your credit score is a measure of your demonstrated ability to meet your loan commitments and other bills in a timely manner. In […]

Published by HomeEquity Bank A reverse mortgage is a versatile and flexible financial solution for Canadians in their retirement years. Homeowners 55+ are unlocking their home equity for tax-free funds that don’t have to be repaid until they decide to sell their homes. Consider these four reasons Canadians 55+ turn to the CHIP Reverse Mortgage […]

Rates Outlook    The Bank of Canada is likely to raise the policy rate a couple of times by 25 bps in the first half of next year, pausing between rate hikes. They will not cut rates in 2023 even though the economy will post at least a mild contraction. 2024 will be a recovery […]

Refinancing your mortgage refers to the process of renegotiating your current mortgage agreement for a variety of reasons. Essentially, refinancing allows you to pay off your existing mortgage and replace it with a new one. There are a variety of reasons to consider mortgage refinancing, including but not limited to: You want to leverage large […]