As the new year unfolds, Canadian borrowers may find themselves receiving a late Christmas present in the form of lower interest rates on specific mortgage types.
As 2024 begins, the Canadian real estate market appears set to grapple with persistent challenges from the previous year, including concerns about interest rates, inflation, and the ongoing housing crisis.
In the forthcoming fall fiscal update, the federal finance minister is poised to introduce significant measures, allocating billions of dollars to tackle the housing crisis in Canada.
The Federation of Canadian Municipalities (FCM) asserts that an estimated $600 billion is required for municipalities to meet housing affordability targets by 2030.
The Bank of Canada is gearing up for a significant economic challenge as the nation braces itself for a massive wave of mortgage renewals in the coming years.