Interest Rates | Clover Properties Rethink Renting

9 01, 2023

Stress Test – How Much Home Can You Buy with $120,000 Income?
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Stress Test – How Much Home Can You Buy with $120,000 Income?

Buying a New House, Housing Market, Interest Rates

Stress Test – How Much Home Can You Buy with $120,000 Income?

By Clover Properties|2023-01-09T12:50:05-05:00January 9th, 2023|Buying a New House, Housing Market, Interest Rates|0 Comments

Wondering how the rate increases (and subsequent stress test increase) would impact your ability to qualify for a mortgage? Suppose your household income is $120,000, you have good credit and you want to buy a condo in a major urban centre. Let’s say the property taxes are $2,400 and the condo maintenance/strata fees are $360 [...]

6 11, 2020

Bank of Canada Signals Low Rates Until 2023
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Bank of Canada Signals Low Rates Until 2023

Benchmark Rate, Housing Market, Interest Rates

Bank of Canada Signals Low Rates Until 2023

By Clover Properties|2020-11-06T14:40:50-05:00November 6th, 2020|Benchmark Rate, Housing Market, Interest Rates|0 Comments

Mortgage shoppers take note: Cheap money is here to stay, at least for the next two years, the Bank of Canada reaffirmed during its interest rate decision on Wednesday. The BoC had previously provided guidance that rates would remain at their effective lower bound—currently 0.25%—“until 2 percent inflation target is sustainably achieved,” but went a [...]