CMHC Tightens Mortgage Rules

In the last decade, we have seen policymakers in the mortgage and banking world stack mortgage rule changes one above the other in an attempt to slow down the increase of home prices. As well, to curb the debt appetite of Canadians. In the last week, CMHC’s President & CEO, Evan Siddall, has done this…

Fact and Fiction about Payment Holidays

With everything going on in the world today, it would be nice to believe that the banks and governments would allow Canadians to take a break from paying bills, however, this is simply not true. The government of Canada, in the midst of this Covid-19 outbreak, has made recommendations to Banks and Financial institutions. Part…

Poloz raises rates on overnight rate

Bank of Canada Holds Rates!

As the financial storm moves into the Canadian economy the Bank of Canada as expected has chosen to forgo on the rate increases as they once had promised would happen. The main reasons for the decision come from lower than expected GDP numbers and from the decision that Alberta government has taken to reduce oil production starting…