Mindblown: a blog about philosophy.

An argument is being made for the Bank of Canada to reduce interest rates. Canada's economic situation and controlled inflation are reasons given in favor of a rate cut.

Halal mortgages in the budget enhance housing for Muslim Canadians and diverse communities. Strategies to back the initiative: Changing tax rules for these products Setting up a financial regulatory space

Canada's banking regulator has introduced a cap on mortgages for highly indebted borrowers. The new rule is intended to prevent Canadians from accumulating too much debt.

The Canadian government increased the maximum RRSP withdrawal limit for first-time home buyers from $35K to $60K.They extended the RRSP repayment grace period from 2-yr to 5-yr.

Know Your Budget: Understanding your financial situation and getting pre-approved for a mortgage is crucial before beginning the home buying process. Compare Rates: Shop around and compare mortgage rates from different lenders to find the best deal, considering both interest rates and terms and conditions.

Use a mortgage calculator to estimate your monthly payments before house hunting. Factors affecting payments include home price, down payment, loan term (15 or 30-yr typically), and interest rate.

Canada's largest financial co-operative suggests introducing more mortgages with longer renewal terms. Longer-term mortgages could mitigate "payment shocks" for households amidst interest rate increases.