A casual spectator of the Canadian housing market could be forgiven for feeling slightly overwhelmed in the last couple of weeks. It seems everybody has an opinion on the state of the housing market… unless you’re the leader of one of the country’s embattled political parties, who seem to be trying their best not to address the elephant in the room. Two weeks ago we saw fixed rates rise by at least 25 basis points for lenders across Canada. This was followed by IMF’s World Economic Output Report, the Bank of Canada’s Monetary Policy Report and a controversial and somewhat apocalyptic report on the housing market in The Globe and Mail. With the degree of information being crammed down our throats of late it can seem a daunting task to decipher these reports and that is why we, at Morcan Direct, have taken it on ourselves to relay what all this information means for you and your mortgage. Continue reading →