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Budget 2023: What does it mean for housing finance?
The 2023 federal budget’s discussion of housing affordability largely focused on previously announced housing and housing affordability measures. There was one new housing measure: an additional $4 billion over seven years, starting in 2024-2025, for Indigenous Housing. Some other measures, while less immediate, will be of interest to mortgage brokers. 1.Lowering the criminal rate of…
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Fed hikes interest rates despite banking troubles
At the Federal Open Market Committee (FOMC) meeting on March 22, the US Federal Reserve increased interest rates by 25 basis points. The Fed’s view is that inflation remains too high and the labour market continues to be very tight; however, problems in the banking system are expected to result in tighter credit conditions for…
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