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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, […]

Bank of Canada Cuts Key Interest Rate to 4.75%, First Reduction Since Pandemic

The Bank of Canada has reduced its overnight rate by 25 basis points to 4.75%, a first since the pandemic began. This move comes after the rate was held at 5% since July of the previous year. The rate hikes started in March 2022 in response to higher-than-expected inflation caused by pandemic stimulus and global […]

Potential Bank of Canada Interest Rate Cut in June: What You Need to Know

April’s inflation data has sparked discussions among economists about the potential for the Bank of Canada to cut interest rates in June. With inflation cooling to a three-year low of 2.7%, down from 2.9% in March, many experts believe the stage is set for the first rate cut of the Bank’s current tightening cycle. Key […]

How Current Economic Trends Affect Your Mortgage Decisions: Insights for Ottawa Homeowners

In light of recent economic discussions, particularly highlighted by economist David Rosenberg, it’s clear that Canada is navigating through some choppy financial waters. For many in Ottawa, these broader economic signals are not just news items; they are crucial factors influencing their mortgage and housing decisions. Here’s what you need to know: Economic Slowdown and […]

The Signs are Here: Adapting to Canada’s Economic Shifts for Smart Mortgage Decisions

In recent weeks, Canada’s economic landscape has undergone subtle yet significant shifts, signaling a moment of caution and reevaluation for homeowners and potential buyers alike. March witnessed an unexpected rise in the unemployment rate to 6.1%, a clear signal that the job market is feeling the pressure. This development, juxtaposed with a stagnant job growth, […]

Time to Buy is Now: Navigating the Spring Housing Market Surge

As the spring housing market looms on the horizon, potential homebuyers are facing a crucial decision point. With expert insights pointing towards an imminent heating up of the market, the message is clear: the time to buy is now. According to industry expert Leah Zlatkin, a notable mortgage broker and Lowest Rates authority, those already […]

Canadian Economy Grows: Expert Insights on When Interest Rates Might Drop

The Canadian economy experienced modest growth in the final quarter of 2023, expanding by one percent on an annualized basis, as reported by Statistics Canada. This growth came after a contraction in the third quarter, indicating a degree of resilience in the economy. Economists have provided various interpretations of this data, focusing on its implications […]