If you didn't already hear, Bank of Canada made a BIG announcement last week and made what’s called a ‘jumbo’ rate cut, reducing the prime lending rate by an entire half percentage point (0.50%)!   This is really important for anybody who's out shopping for a home, has an upcoming mortgage renewal, or is currently in a variable rate mortgage. Let's talk a little bit about what this means to you and how this affects your situation.     So instead of talking about specifically what yesterday's rate cut did by itself, let's talk about what all of the rate cuts in aggregate have done…

Starting December 15th, the federal government has introduced changes to the way Canadians can purchase real estate and apply for mortgages in Canada.

This is coming at a time when the current federal government is trying to build confidence in Canadians to prevent an early federal election.