Bank of Canada Announces Another Interest Rate Reduction, Offering More Positive Signs for Homebuyers and Owners
TLDR The Bank of Canada reduced interest rates by 25 basis points to 4.5% The rate cut is good news for buyers and owners who can benefit from incremental rate reductions Buyers and owners should continue to make decisions based on personal circumstances Homeowners renewing a mortgage can plan ahead to help offset the impact […]
Bank of Canada Expected to Cut Rates on July 24, Followed by Two More Cuts in 2024
The Bank of Canada (BoC) is anticipated to lower its overnight interest rate by 25 basis points to 4.50% this Wednesday, according to a Reuters poll of economists. This move comes amid expectations that inflation will continue to decline. With the Canadian economy slowing and unemployment slightly rising, the central bank is projected to implement […]
Bank of Canada Rate Cuts: Is it Too Little, Too Late?
The recent surveys from the Bank of Canada have painted a concerning picture of our economy, leading some to question if the central bank has delayed interest rate cuts for too long. The surveys, conducted in April and May, reveal weak economic growth, a slowing job market, and a declining threat of inflation. Stephen Brown, […]
Weaker Inflation in the U.S.: A Boon for Canadian Borrowers
Canadian Government Bond Yields Drop, Potentially Lowering Fixed Mortgage Rates Canadian borrowers are starting to be enticed by five-year mortgage rates. The consumer price index (CPI) in the United States showed promising results today as inflation eased to three per cent, just slightly above a three-year low. This cooling of inflation led to a […]
Canadian Unemployment Could Exceed 7% Without Timely Interest Rate Cuts: National Bank
The Canadian labour market faces a grim outlook, with unemployment projected to exceed seven percent this year if the Bank of Canada (BoC) doesn’t implement interest rate cuts soon, according to a recent warning from a National Bank economist. The labour market is “gasping for air” and should not be overshadowed by the focus on […]
Approaching Your Mortgage Renewal? Explore All Your Options!
As your mortgage renewal date approaches, it’s important not to settle for just the five-year fixed or variable rate options that many lenders commonly offer. While these options may seem convenient, they might not be the best fit for your financial goals and circumstances. At TopRankinMortgages, we believe in empowering you with all the information […]
Top 10 Events Happening in Ottawa This Weekend – July 5th – 7th
Ottawa is bustling with activities this weekend, offering something for everyone. Whether you’re into sports, arts, music, or food, there’s an event for you. Here are ten exciting events to check out: 1. Capital Pop-Up Cinema Date: July 5, 2024 Location: Beechwood Cemetery Time: Sundown Details: Enjoy the classic movie “Dr. Strangelove” under the stars. […]
Understanding the Impact of Rising Inflation on Your Mortgage and Finances
As inflation in Canada climbed to 2.9% in May, surpassing the expected 2.6%, many Canadians are left wondering what this means for their finances, especially their mortgages. At TopRankinMortgages, we aim to provide clarity on how these economic changes impact you and offer strategies to navigate this evolving landscape. What is Inflation and Why is […]
Celebrate Canada Day 2024 in Ottawa: Your Complete Guide to July 1st Festivities
Canada Day in Ottawa is a vibrant celebration of national pride, featuring an array of events from cultural showcases to spectacular fireworks. If you’re planning to join the festivities, this guide covers all you need to know for an unforgettable day. Discover the best events and activities to make the most of Canada Day in […]
How Much Ottawa Homeowners Will Save Following the Latest Interest Rate Drop
Last week’s 25 basis point interest rate cut by the Bank of Canada (BOC) has brought welcome news for homeowners in Ottawa and across Canada. This reduction, which lowers the interest rate to 4.75%, is the first cut since March 2020, following a series of rate hikes between March 2022 and July 2023. At TopRankinMortgages, […]
