While the impact of COVID-19 on markets and the economy has been unprecedented, there has been one constant over the past year that has provided small comfort to Canadian consumers: an ultra-low cost of borrowing that has made it easier to qualify for mortgages and other forms of credit. 

As the dust has started to settle on the economic shakeup and vaccines roll out, though, expectations are growing that interest rates will inevitably start to climb. Well, borrowers can rest easy for now, as the Bank of Canada (BoC) announced for the 10th consecutive time that their trend-setting rate will remain at 0.25%, and hinted they’ll leave it untouched until well into 2022.

However, a rosier-than-expected economic picture is prompting the Bank to assess some of…

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Home Renovations That Buyers Want

What are the home renovations that buyers want to see on the market? It’s a great question, and one you’ve likely pored over if you’re preparing to list your home for sale in the near future, or you’re embarking on a renovation with a thought to long-term resale value. According to the 2021 RE/MAX Renovation Investment Report, more than half of Canadians underwent a home renovation for personal/non-ROI purposes, with 29% choosing to renovate for non-essential “lifestyle” reasons, such as recreation-inspired projects. Despite the trend of renovating for personal use and enjoyment, 59% of Canadians said they always consider the return on investment that a renovation will have on their home’s overall market value, so while there is a current…

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