Drummond, a former TD economist who advised Canadian prime ministers, believes the ultra-low rates of the last decade were an aberration. “Many people, for many years, have said that rock-bottom interest rates are the new normal. I never believed that,” he said at the Mortgage Professionals of Canada national conference last month. “Obviously it was … Read more
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By Sammy Hudes The council said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent from 4,611 in the same month last year. Sales increased 14% from September on a seasonally adjusted basis. The average sales price increased 1.1% from a year earlier to $1,135,215. The composite reference price, … Read more
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This is according to the Bank of Canada’s latest quarterly survey of market participants, which consists of a questionnaire sent to 28 influential players in the financial markets. Based on the median of the results, respondents estimate that the central bank will make four additional quarter-point cuts by June 2025, bringing the policy rate to … Read more
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By Ritika Dubey “If there are no limits, parents can put themselves in a precarious position,” said Sara McCullough, financial planner and owner of WD Development. Parents should evaluate whether they can afford it or risk putting themselves at risk in the future, she said. It’s not uncommon for parents to help their adult children … Read more