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Government of Canada programs to support homebuyers in 2024

Government of Canada programs to support homebuyers in 2024

This article has been updated from a previous version.  

It’s no secret that Canada’s housing market is feeling the effects of high inflation and Bank of Canada’s nine successive interest rate hikes.   

About the author

H.G. Watson

H.G. Watson is a writer based in Toronto. Her work has appeared in Chatelaine, Vice, Flare, Maisonneuve, The Walrus and more. You can find her at @hg_watson on Twitter.

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Historical mortgage rates: Averages and trends from the 1970s to 2024

family in the background entering a home that has recently been sold

family in the background entering a home that has recently been sold

From ultra-high rates in the early 1980s to the record lows Canada saw during the pandemic, interest rates are always in flux. Here's a closer look at how five-year fixed conventional mortgage rates have changed over the last 50 years.

This article is updated from a previous version. 

From ultra-high rates in the early 1980s to the record lows Canada saw in 2021, mortgage interest rates are always changing.

The Bank of Canada sets the country’s overnight lending rate, which is used as a benchmark by banks and other lenders when setting the prime rates they offer customers on variable-rate products, like a variable mortgage, for instance.

About the author

Jane Switzer

 

​Jane Switzer is a writer, editor and native Torontonian. She got her start working in daily journalism, and was formerly a content manager for LowestRates.ca. She has written about personal finance and investing for websites like Wealthsimple, Tangerine Bank and Ratehub.ca. You can find her on Twitter: @janeswitzer.

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What to do if your mortgage loan application is denied

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