Skip to main content

Featured

Why Interest Rates Matter for Canadians

Interest rates are the single most powerful lever in Canada's economy.  When the Bank of Canada adjusts its policy rate, the effects reach every household—from the cost of carrying a mortgage to the return on a savings account. With rates currently at 2.25% and significant uncertainty ahead, understanding how rates work has never been more important for your finances. What Is the Bank of Canada's Policy Rate? The Bank of Canada sets the overnight policy rate—the interest rate at which major banks lend money to each other. This rate serves as a benchmark that influences borrowing and lending costs across the entire economy. When the Bank raises or lowers this rate, commercial banks adjust their prime rates accordingly, which directly affects the rates you pay on mortgages, lines of credit, and other loans. The Bank's primary goal is to keep inflation near its 2% target. When inflation runs too hot, the Bank raises rates to cool spending. When the economy slows, it cuts rates...
Post a Comment
Read more

article

Labels

Home Staging Companies Adapt to Slow Housing Market as Sellers Cut Costs

 

In a sluggish housing market, home staging companies are being forced to adapt as sellers pull back on the cost of a thorough revamp. Rachael Stafford, the founder and creative director of organizing and staging company Order in the House, said that her company has had to adapt in this high interest rate environment after a years-long housing boom. Stafford also mentioned that sellers are more so trying to scale back a little bit on the rentals, concerned about the initial investment and the ongoing monthly fees should the property not sell quickly.


Labels:

Comments

Post a Comment