| Term | Bank Rate | Our Rate |
| 1 Year | 3.54 % | 3.04 % |
| 2 Year | 3.74 % | 2.89 % |
| 3 Year | 3.89 % | 2.69 % |
| 4 Year | 3.94 % | 2.94 % |
| 5 Year | 5.34 % | 2.54 % |
| 7 Year | 5.80 % | 2.99 % |
| 10 Year | 6.10 % | 3.04 % |
That is the gist of the boldest proposal that Budget 2019 puts forth to help more middle-income Canadians fulfill their homeownership dream. Under the new CMHC First-Time Home Buyer Incentive, the Canada Mortgage and Housing Corporation would use up to $1.25 billion over three years to help lower mortgage costs for eligible Canadians. The
Last year was an interesting one for the Canadian new and resale housing markets. The introduction of the mandated mortgage stress test set out by theOffice of the Superintendent of Financial Institutions (OSFI) had a significant effect, in that both new and resale home sales were down. First-time buyers were especially affected, as most either
Today’s interest rates are still at jaw-dropping, forehead-slapping, eye-popping lows if you judge by historical standards. So when the Bank of Canada talks about bringing rates back to more normal levels, you better listen up. Rates have already risen in the past 15 months and it now looks like there’s a fair bit more to
