Real Estate

Short-term relief from Bank of Canada rate hold and more Canadian real estate news for September 9

15/09/2023
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Home of the Week: 5036 Vanstone Crescent NW, CalgaryHayden Pattullo/Hayden Pattullo/Damon Hayes Couture

Here are The Globe and Mail’s top housing and real estate stories this week, with the lowest mortgage rates available in Canada today, commentary from our mortgage expert and one home worth a look.

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Homeowners with mortgages to get short-term relief, but future Bank of Canada rate hikes a ‘looming’ fear

The Bank of Canada announced Wednesday it was holding its key interest rate steady at 5 per cent, but borrowers shouldn’t celebrate just yet. Due to the rising concern about inflation, the bank is leaving the door open to future hikes. Rising rates have affected homeowners with variable-rate mortgages, reports Rachelle Younglai. This week’s decision has some borrowers in a state of “constant looming fear” that a hike in the future will

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Real Estate

Don't Worry About Interest Rate Hikes

15/07/2023

Our experts answer readers’ investing questions and write unbiased product reviews (here’s how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.

  • Brenda Stroud has been buying real estate since the early 1990s.
  • She’s learned not to let factors outside of her control, like interest rates, affect whether or not she buys property.
  • Stroud also explains why she likes 5-year adjustable-rate mortgages.

Real estate investor Brenda Stroud isn’t one to sit on the sidelines during a high-interest rate environment.

She’s already done four real estate deals in 2023 and has two more under contract.

“You can’t have a doomsday mindset or attitude about things you cannot control,” the 55-year-old told Insider. “This is part of the business. Real estate is a risky business.”

Stroud bought her first home in the early 1990s. She was working as

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Real Estate

Latest interest rate hike jolts Toronto real estate market

14/06/2023
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A house for sale in Toronto’s Cabbagetown neighbourhood.Ammar Bowaihl/The Globe and Mail

For many buyers and sellers immersed in the spring rejuvenation of the Toronto-area real estate market, the Bank of Canada’s recent interest rate hike came as a sudden jolt.

The central bank’s rate-setting committee raised the benchmark rate by 0.25 points to 4.75 per cent in June after recent data showed the country’s economic growth was surprisingly robust in the first quarter. The Bank of Canada had paused a series of rate hikes earlier this year as the rate of inflation fell towards its target rate of two per cent but it has remained stubbornly high.

Industry professionals say calls flooded in from potential buyers, investors and existing homeowners as they grappled with the possible repercussions. Showings also slowed down in the days after the announcement as aspiring buyers absorbed the news,

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