There was a 7.9% increase in consumer debt making the total consumer debt to $2.2 trillion. Another rate hike is expected in April.

The rates were increased from a record low of 0.25% to 0.50%, however, another Bank of Canada rare hike could happen in April.

The persistent inflation is changing rate forecasts weekly and forecasting interest rates in such circumstances does not provide conclusive results

The property value decrease depends on many economic factors. Although interest rates have increased, the housing market still has fierce competition

The increasing home prices has translated into record borrowing whereby the borrowed amount equates to $187.5 billion in mortgage debt

The average monthly rent calculated was $2,044 for one-bedroom, and the average two-bedroom costing $2,778.

The average home price has increased to $816,720 in February which is a 20.6% increase since last year as supply demands are being fulfilled.

A lender has full authority to reject your mortgage application if changes occur to your finances. Here are key issues to avoid for a smooth transaction.

A mortgage industry group highlighted that the First-Time Home Buyers’ Program is failing because of restrictive criteria.

Mortgage stress test has already increased for some borrowers because they are stress-tested for rates higher than 3.25% plus 2%.