September 2024

Canadian government raises insured mortgage cap, expands 30-year amortizations

Posted on Sep 17, 2024

The federal government has unveiled sweeping changes to Canada’s mortgage system, calling them the “boldest reforms in decades.”


Key measures include raising the insured mortgage limit to $1.5 million, which will expand access for Canadians in high-priced housing markets. That’s an increase from the current insured mortgage cap of $1 million.
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Bank of Canada Drops Rate Again

Posted on Sep 04, 2024

This morning, the Bank of Canada (BoC) issued its third consecutive 0.25% rate cut, reducing the policy rate from 4.50% to 4.25%. This decision comes as the BoC continues its effort to combat economic slowdown, with variable mortgage rates immediately dropping by the same margin.However, while this move may offer temporary relief to borrowers, it o...

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