When buying or selling a home, you’re going to encounter all the terminology that goes along with it. Many of these words and phrases are not common knowledge, and having a basic understanding of the ones used most often can make the process less daunting. Let’s look at a few real estate terms to know:
Bank of Canada Interest Rate Announcement: Up 50 Basis Points on October 26 in Sixth Consecutive Increase The Bank of Canada has announced a 50-basis-point increase to its trendsetting interest rate, bringing its target for the overnight rate up to 3.75 per cent. The year started with the bank rate at 0.25 per cent, following a trio of rate cuts in the early days of the pandemic, intended to...