Building homes in Newfoundland and Labrador often feels like rowing upstream—material costs are high, trades are stretched thin. One major, under-the-radar culprit? Canada’s interprovincial trade barriers—rules that hinder the free movement of goods, services, and labor between provinces. According to the Canada Mortgage and Housing Corporation (CMHC), removing these barriers could add 30,000 housing starts per year nationwide, pushing annual starts to nearly 280,000—about 15

A new report from Deloitte suggests that Canada might fall into a mild recession by the middle of 2025. That word—recession—can sound scary, but let’s take a closer look at what’s happening and what it means, especially for us here in Newfoundland and Labrador. So, What’s Going On? Deloitte predicts that Canada’s economy will slow down in 2025. Specifically, they expect two quarters in a row where the economy shrinks, which is considered a technical recession. The main cause?

Across Canada—and right here in Newfoundland—renting is no longer just a stepping stone to homeownership. Between 2016 and 2021, nearly 500,000 new renter households were added across the country, pushing Canada’s national renter rate to over 33%, the highest it’s ever been. This signals a powerful shift in how Canadians are living—and it’s something we’re starting to see more of across our own communities. What’s changing? More and more homes that were traditionally built fo

Exploring Current and Proposed GST Rebates for New Homes: Insights by The Mortgage Missus Inc. Buying a newly built home in Newfoundland just got more exciting—especially for first-time buyers. The federal government has proposed major changes to the GST rebate program that could save you thousands of dollars on your new home purchase. But what’s actually changed? And how does it compare to what’s currently in place? Let’s break it down. ✅ Current GST Rebate (2024 Policy Stil

The recent imposition of 25% tariffs by the U.S. on Canadian imports, effective February 4, 2025, has significant implications for Canadian homeowners and prospective buyers. In response, Canada has announced equivalent tariffs on U.S. goods. Potential Impacts on Mortgages: Interest Rate Volatility: The Bank of Canada may adjust interest rates to counteract economic uncertainties arising from these tariffs. Such changes could affect your mortgage payments, particularly if yo

Key Economic Data: Durable Goods: These are big items like cars and appliances that last a long time. GDP: Gross Domestic Product, which shows how much a country's economy is growing. Jobless Claims: How many people are filing for unemployment benefits. Corporate Profits: How much money companies are making. Consumer Spending: How much people are spending on goods and services. Treasury Yields and Economic News: U.S. Treasury Yields: This is the interest rate the government p

Variable-Rate Mortgages and Fixed-Rate Mortgages Variable-Rate Mortgages: These mortgages change whenever the Bank of Canada changes its interest rates. So, if the Bank of Canada lowers rates, the payments on these mortgages will go down right away. But, not many people use these kinds of mortgages. Most people use fixed-rate mortgages, where the interest rate stays the same for a certain period, like five years. Fixed-Rate Mortgages: These are influenced by bond yields. A bo