Bank of Canada announces emergency interest rate cut

In an emergency announcement on March 13th, 2020 the Bank of Canada announced a 0.5% reduction in its trend-setting overnight lending rate from 1.25% to 0.75%. This was a further reduction from the 0.5% cut announced just 9 days earlier at the regularly scheduled...
Canadian home sales up in February

Canadian home sales up in February

As providers of the most accurate and timely housing data and statistics, CREA cannot crediblyupdate its quarterly forecast at this time. Ottawa, ON, March 16, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales...

Changes to the mortgage stress test

Ottawa, ON, February 18, 2020 – Earlier today, Minister of Finance Bill Morneau announced changes to the mortgage stress test. The new benchmark rate used to determine the minimum qualifying rate for insured mortgages, coming into effect on April 6, 2020, will be the...
Canadian home sales down in January

Canadian home sales down in January

Ottawa, ON, February 14, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between December 2019 and January 2020. Highlights: National home sales fell by 2.9% on a month-over-month (m-o-m) basis in...