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The details of a $1.25 billion home-buyer incentive program that was included in the federal budget shows it will save new owners a few hundred dollars a month on their mortgage. First-time buyers with household incomes less than $120,000 a year could be able to save around $286 a month on a $500,000 house without…

MATT LUNDY PUBLISHED 2 DAYS AGO UPDATED JULY 17, 2019 GLOBE AND MAIL HOUSEHOLD FINANCES The era of higher mortgage rates was short-lived Those renewing or about to renew their mortgages can breathe a sigh of relief: The era of higher interest rates appears to have been short-lived. RBC Dominion Securities compared a typical five-year…

Can’t afford to buy a house? The government may take on part of the cost. That is the gist of the boldest proposal that Budget 2019 puts forth to help more middle-income Canadians fulfill their homeownership dream. Under the new CMHC First-Time Home Buyer Incentive, the Canada Mortgage and Housing Corporation would use up to…

Bank of Canada stands pat   To few people’s surprise, the Bank of Canada is opting to maintain the target for the overnight rate at 1.75%–but the future of interest rates is much less clear.   While the Bank projected a temporary slowdown at the end of 2018 and into 2019, the slowdown has been much…