Business

TRREB ENCOURAGED BY FEDERAL BUDGET ACTIONS TO INCREASE SUPPLY OF HOUSING The Toronto Regional Real Estate Board (TRREB) is applauding the federal government for making housing affordability a priority of the 2022 Federal Budget but is questioning the need and effectiveness of some of the announced actions. Specifically, TRREB is encouraged that the budget includes initiatives intended to increase the...

  The Bank of Canada raised its policy interest rate Wednesday, pushing up borrowing costs for the first time since 2018 and kicking off a much-anticipated rate hike cycle despite heightened economic uncertainty caused by Russia’s invasion of Ukraine. The central bank’s governing council voted to increase the key overnight interest rate to 0.5 per cent from 0.25 per cent – the first step...

OTTAWA - The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent, but warning it won't stay there for much longer. The trendsetting rate has been at its rock-bottom level since March 2020 during the first wave of the COVID-19 pandemic as the economy went into a downturn and three million jobs were lost.   The central bank said Wednesday the rebound since then...

Canada’s top central banker isn’t worried about the country’s hot housing market, saying low-interest rates and demand for space rather than speculation are behind the price gains. Accommodative monetary policy, a preference for more living area and the ability to work from home during the pandemic are the main reasons demand for single-family homes across the country has been so robust,...

COVID-19: Government Financial Support During Lockdowns Please note: the federal government is constantly updating its website as new information is announced. Remember to check Canada’s official coronavirus webpage and CREA’s COVID-19 online hub to stay up to date. As some provinces re-enter strict lockdowns to combat the spread of COVID-19, here are the financial assistance options currently...