10 Quick Facts on... Remembrance Day...

1. Remembrance Day was first observed in 1919 throughout the British Commonwealth. It was originally called “Armistice Day” to commemorate armistice agreement that ended the First World War on Monday, November 11, 1918, at 11 a.m.—on the eleventh hour of the eleventh day of the eleventh month.
2. From 1921 to 1930, Armistice Day was held on the Monday of the week in which November 11 fell. In 1931, Alan Neill, Member of Parliament for Comox–Alberni, introduced a bill to observe Armistice Day only on November 11. Passed by the House of Commons, the bill also changed the name to “Remembrance Day”. The first Remembrance Day was observed on November 11, 1931.read more

Happy Halloween!!!

Halloween is observed annually on the night of 31 October. It is believed to have originated primarily as a Celtic celebration marking the division of the light and dark halves of the year, when the boundary between the living and the dead was believed to be at its thinnest.

Higher Borrowing Costs See Buyers Remain on Hold

Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared to last year. However, selling prices remained higher than last year’s levels.

REALTORS® reported 4,646 GTA home sales through TRREB’s MLS® System in October 2023 – down 5.8 per cent compared to October 2022. On a month-over-month seasonally-adjusted basis, sales were also down in comparison to September. New listings in October 2023 were up noticeably compared to the 12-year low reported in October 2022, but up more modestly compared to the 10-year average for October. 

Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem

Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is expected to have on the economy.

Most Canadian mortgage holders facing big payment shock: RBC

Canadian homeowners are facing a significant payment shock on their mortgages unless interest rates decline in the coming years, according to a new Royal Bank of Canada (RBC) report.

OSFI report reveals largely unknown mortgage exemption: no stress test on insured switches

Many in the mortgage industry reacted with surprise after learning about a little but very important nugget buried in an OSFI report released earlier this week.

Bank of Canada likely to begin cutting rates in mid-2024: CIBC's Tal

CIBC deputy chief economist Benjamin Tal said that while we are very close to the end of Bank of Canada rate hikes - or maybe already there - the biggest question is when the Bank will begin cutting rates.

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