Why Canada’s housing market is stronger than it looks – and recovery is just around the corner Naomi Oliver January 21, 2023   It’s hard to imagine the housing market being any weaker than what we’re going through right now. But the market is stronger than it looks. And that will become clear later this year and next. However, pessimism is inevitable. Finally, since...

The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative tightening. The global and Canadian economies are evolving broadly in line with the Bank’s July projection. The effects of COVID-19 outbreaks, ongoing supply disruptions, and the war in Ukraine continue to dampen...

The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy of quantitative tightening (QT). Inflation globally and in Canada continues to rise, largely driven by higher prices for energy and food. In Canada, CPI inflation reached 6.8% for the month of April – well above the Bank’s...

Ontario Government announces key changes to Real Estate & Business Broker Act effective next year New rules aim to increase consumer confidence and protection RECO is pleased to announce that the provincial government is making important changes to the law that governs real estate registrants (agents and brokerages) in Ontario. The changes will strengthen consumer protection and raise consumer...

The Bank of Canada has announced a 0.5% increase to its benchmark interest rate, a move that signals the central bank’s largest single rate hike for over two decades. The decision, revealed at the Bank’s third scheduled interest rate announcement of the year, marks the second consecutive hike to its trendsetting rate after March’s quarter-point increase, and means the policy rate now sits at...