affordable homes

TORONTO – Canadians took out fewer new mortgages even before interest rates began to rise last week, but consumer debt continued to increase in the fourth quarter, Equifax said in a report.The company said Monday the number of new…

TORONTO — There was no relief for Greater Toronto Area homebuyers last month as the average home price crept up nearly 28 per cent when compared with last year as a lack of supply continued to hamper the market.The Toronto Regional Real…

OTTAWA – Canada's top central banker says raising the Bank of Canada's benchmark interest rate may be costly for households, but waiting longer to act would be more costly for the country.Governor Tiff Macklem says the impact of raising…

Numerous Canadian banks said Wednesday that they are increasing their prime interest rate by 25 basis points following the Bank of Canada's rate announcement earlier in the day.The central bank said it was increasing its key rate by a…

TORONTO – Housing experts say prospective homebuyers hoping Wednesday's interest rate hike will cool the country’s heated real estate market will likely be disappointed.They believe pent-up demand for homes is so high and supply still…

OTTAWA – The Bank of Canada has raised its key interest rate for the first time since slashing the benchmark rate to near-zero at the start of the COVID-19 pandemic, in a bid to tackle inflation rates that are likely to keep rising from…

The country's hot housing market drove economic growth last year as the economy ended 2021 on a high note, eking out a gain to start 2022, and giving more ammunition to a central bank set to raise rates.Statistics Canada said Tuesday…

The Homebuilders Association Vancouver (HAVAN) released its final 2021 quarterly report ‘What Goes into the Cost of a Typical New Home in Metro Vancouver?’According to the report, consultant fees, financing, business operations, and…

WASHINGTON (AP) – Average long-term U.S. mortgage rates jumped again last week, approaching levels not seen since 2019.The average rate on a 30-year loan rose last week to 3.92% from 3.69% the previous week, mortgage buyer Freddie Mac…

OTTAWA – The annual pace of inflation has topped five per cent for the first time in more than 30 years.The annual inflation rate rose to 5.1 per cent in January compared with a gain of 4.8 per cent in December, Statistics Canada …