Canada: Still sluggish home sales allow inventory to recover Home sales edged down 1.7% between March and April, a second monthly decrease in five months. On a provincial level, decreases were recorded in April in Nova Scotia (-6.3%), Alberta (-4.5%), Manitoba (-4.1%), Ontario (-2.9%), Quebec (-1.3%), P.E.I. (-0.6%), and B.C. (- 0.5%). On the other […]

Federal Budget Summary: Housing and Capital Gains Tax TD Economics Budget 2024 re-upped the Liberal government’s efforts to improve affordability for low-and-moderate income Canadians, with new spending totaling $53 billion earmarked over the five-year horizon ($57 billion including spending since the Fall Economic Statement). Programs to fast-track the building of new homes and improve affordability […]

Equifax: Helping Protect Seniors From Fraud and Identity Theft While identity theft and fraud can strike people of all ages, senior citizens may be particularly vulnerable.  Fraud is the top crime against older Canadians, according to the intergovernmental Federal/Provincial/Territorial Ministers Responsible for Seniors. Reasons for that may include that seniors may be home more often during […]

CMHC announced on March 1 that The First-Time Home Buyer Incentive program will be ending The deadline for submitting new or updated applications for the First-Time Home Buyer Incentive is March 21, 2024, at midnight ET. No new approvals will be granted after March 31, 2024. Initially designed to alleviate the burden of monthly mortgage […]

Consumers Give a Little Love with Year-End Purchases According to the latest TD Spend data, consumer notably loosened their purse strings, possibly swayed by the holiday spirit and warm weather. Spending during the last three months of the year grew on average by 0.7% month-over-month.  This change in spending dynamic helped the year finish on […]

Missed Payments and Financial Strain Are Increasing for Many Canadians, Credit Card Debt Continues To Rise Total consumer debt in Canada stood at $2.4 trillion in Q3 2023, an increase of $80.9 billion from the same period last year, according to Equifax® Canada’s latest Market Pulse Consumer Credit Trends and Insights report. Despite the impact […]

2023 Fall Economic Statement: What You Need to Know Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released the Fall Economic Statement on November 21, 2023. Here is an overview of key housing measures that may affect you:  The federal government acknowledges the need for long-term housing solutions. To address short-term rentals, starting January […]

The holidays can be a stressful time on your finances. Contact us now for help managing your equity & monthly expenses.

Housing market slowed in September as interest rates weigh in Summary https://www.nbc.ca/content/dam/bnc/taux-analyses/analyse-eco/logement/economic-news-resale-market.pdf Easy home improvements you can do in winter (NC) As we tend to spend more time indoors during cold weather, eager do-it-yourselfers need to look for some interior reno projects to keep them occupied. Here are some low-cost tasks you can tackle that […]

In today’s announcement, the Bank of Canada decided to maintain its target rate at 5%. The September inflation report revealed a rate of 3.8%, which is currently decreasing. It is expected that Canada will soon declare a brief recession, prompting the Bank to adopt a cautious “wait and see” strategy. The global economy is experiencing […]