Bank of Canada hikes key interest rate to 3.25%
Sep 12, 2022
The Bank of Canada raised its benchmark interest rate three-quarters of a percentage point on Wednesday and signaled that the key rate “will need to rise further” to tackle high levels of inflation. The central bank’s policy rate now stands at 3.25 per cent. This marks the fifth rate hike so far in 2022 — Canada’s key interest rate […]
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HOW MUCH MORE INCOME DO YOU NEED TO AFFORD A HOME IN CANADA?
Aug 2, 2022
Despite decreasing home prices, Canadians now need to earn more income to afford a home. This is due to rising interest rates and its impact on the stress test. Homebuyers now must earn between $8,660 – $35,760 more in additional annual income to buy a home in June 2022 compared to March 2022 (www.ratehub.ca).
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RENTERS VS. OWNERS – By The Numbers
Jul 22, 2022
WHY EACH RATE HIKE EQUALS MORE PAIN FOR CANADIANS Roughly 2/3 of Canadians are homeowners, and about half of them own their homes outright while the remaining have some sort of mortgage debt attached to it. During the pandemic home prices increased by about 50% on average, due to low-interest rates. However, the inflated home […]
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If you had $10,000 to invest annually over 15 years…
Jun 11, 2022
where would you invest it to generate the most after-tax income?
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