In a frustrating turn of events, Canada's inflation rate for the month of July has surpassed market expectations, ringing in at 3.3% instead of the anticipated 3.0%. This unexpected increase,...
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Economic
Dive deep into the world of economics as it pertains to mortgages. Explore market trends, monetary policies, and global factors influencing home loan rates and opportunities. Unravel the intricate web of economic forces that shape your mortgage journey.
Canada’s Disappointing Growth Data from Q2 2023 May Halt Bank of Canada’s September Interest Rate Hike
Canada's economic growth figures for the second quarter of 2023 have been labeled as "disappointing" by economists, casting doubt on whether the Bank of Canada will proceed with its planned interest...
Did the Bank of Canada Increase Rates Too Much?
The Bank of Canada has been on an unprecedented path of rate increases, raising its interest rate from 0.25% in March 2022 to 5.00% in July 2023. The central bank took this aggressive stance in...
Mortgage Minute 26: UGH! Bank of Canada Summer Rate Jump
UGH! Bank of Canada Summer Rate Jump Will this be the FINAL Rate Increase of the year? Need Some Mortgage Advice? Whether getting a mortgage on your first home, or looking at options for your next...
Bank of Canada Expected to Increase Rate July 12th
Following two rate increases earlier in 2023, and several in 2022, the Bank of Canada is poised to implement another 0.25% hike, confirming its ongoing commitment to combatting post-COVID inflation....
Canada’s May inflation rate slows, weakening case for a July rate hike
Canada's May inflation rate has slowed, raising doubts about a possible interest rate hike by the Bank of Canada in July. Data released by Statistics Canada shows that the annual inflation rate...
May Inflation Data coming June 27
On June 27th, the May Consumer Price Index (CPI) data will be released in Canada, providing crucial insights into the country's inflation trends. The previous month, the CPI nudged up to 4.4% after...
Equifax Reports More Late Payments amid High Demand for Credit
Disclosure: This article is more technical than most of what we share as it is heavy on analysis and light on explaining. Equifax® Canada's recent Market Pulse report on consumer credit trends and...
Weak May Employment Numbers May Stop July Rate Increase
After a week of talk of more and more Bank of Canada rate increases, here is something that is interesting! The latest employment numbers for May in Canada came in lighter than anticipated, and this...
Variable-Rate Mortgage Holders Face More Challenges
Variable-rate mortgage holders are in for "more pain" following the Bank of Canada's decision to raise interest rates once again. The central bank believes that the current monetary policy is not...
Mortgage Minute 25: Bank of Canada Raises Rates AGAIN!
The Bank of Canada Bumps Rates AGAIN!Will this be the FINAL Rate Increase of the year?Need Some Mortgage Advice?Whether getting a mortgage on your first home, or looking at options for your next one...
Coin Toss: Rate Increase NOW or in July?
The odds of the Bank of Canada raising rates at this week's monetary policy meeting are essentially a coin toss, according to economists. While the decision could go either way, the markets indicate...
Canada’s Strong GDP Growth Fuels Speculation of Rate Hikes by the Bank of Canada
Canada's latest Gross Domestic Product (GDP) figures have exceeded expectations, signaling robust economic growth in the first quarter of 2023. The country's economy expanded at an annualized rate...
Canadians are Abandoning the Usual 5-year Mortgage Terms
In recent months, there has been a noticeable shift in the preferences of Canadian homebuyers when it comes to mortgage terms. According to data from the Canada Mortgage and Housing Corporation...
Could Higher Interest Rates be the Reason Canadians are Not Listing Their Homes?
In a surprising turn of events, the Canadian housing market is experiencing a shortage of new home listings, with homeowners showing reluctance to sell their properties. This has led to a surge in...
Mortgage Minute 3: Canadian Mortgage Rates and COVID-19
Alberta and pretty much the whole world is in a state of a public health emergency. Many jurisdictions are under forced quarantine, or shelter in place orders. In addition to the emotional, and...
Mortgage Minute 2: COVID-19 and Mortgage Rates
We have seen the novel coronavirus spread faster than many of us thought. COVID-19 has closed schools and is hurting the economy. Today Alberta declared a state of emergency and most non essential...
New and Improved Stress Test!
The Department of Finance announced Tuesday changes to the mortgage stress test. "The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance...