Interest rate change by Bank of Canada — again
Posted on Mar 30, 2020 in Interest rates
There have been three headlines this month that looked the same:
Bank of Canada lowers interest rate
That’s right, three times in ONE month. To be even more specific, three times in 23 days!
The first two rate changes were both 50 basis points, or half a per cent. So was the most recent one, on Friday, dropping the Bank of Canada’s overnight rate to 0...
A message for Baby Boomers above the second floor
Posted on Mar 26, 2020 in Apartment improvements
Let’s say you’re a Baby Boomer, that you’re contemplating leaving a house that’s too big and that you’re thinking a high-rise condo might be a nice alternative.
You’ll do all the obvious plusses and minuses, of course.
Here’s one you might not be considering.
A defibrillator.
Seriously?
Nobody wants to “need” a defibrillator, but in case you do, you mig...
Interest rates, the stress test and market updates
Posted on Mar 17, 2020 in Real estate market
News item: Bank of Canada drops interest rate…again
For the second time in 10 days, the Bank of Canada cut its overnight rate by 50 basis points, to 0.75 per cent. The new rate went into effect this week as “a proactive measure taken in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in o...
Baby Boomers and the real estate market
Posted on Mar 12, 2020 in Real estate demographics
A report released this week that in part addressed “trends related to aging and its impact on the housing aspirations” in major 
Canadian cities is getting a lot of traction with the large demographic known as the “Baby Boomers.”
Canadian cities is getting a lot of traction with the large demographic known as the “Baby Boomers.”The report's “headline” was that 86 per cent of Baby Boomers (and “older” adults) in four major metropolitan areas, includ...
Renovations? Questions for your contractor
Posted on Mar 09, 2020 in Home improvements
Just like spring cleaning, lots of home owners are thinking spring “renovating” to make their houses more enjoyable, or more saleable.
Here are three questions to put on your list for the contractor before you commit:
• Will you provide a written cost estimate and breakdown, itemized and regularly updated?
• Can you give me a list of references with c...
Mortgage rate cut — the whole 0.5 per cent?
Posted on Mar 05, 2020 in Interest rates
Today or tomorrow, Canadian banks are expected to announce changes to mortgage interest rates.
This comes after the Bank of Canada lowered its interest rate to the banks by 0.5 per cent. It’s unknown if the banks will pass the entire half-per-cent cut to consumers.
Given that banks are competitive, and given that this is the eve of the spring real es...