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Mortgage Minute 9: Inflation-Post COVID

Mortgage Minute 9: Inflation-Post COVID

This week the bank of Canada made its fourth rate announcement of the year. The bank left the overnight rate unchanged yet again, as expected. It did provide somewhat encouraging thoughts on the state of the Canadian and global economy and it also updated its outlook on inflation. Here are a few of the things the bank told us this week.

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Mortgage Minute 7: 2021 Market Projections

Mortgage Minute 7: 2021 Market Projections

It was only a month ago that we collectively looked back at 2020 and thought “well, THAT was a crazy ride!” Then January 2021 started. Our neighbours to the south saw a rocky transition of power between presidents. The pace of COVID-19 deaths picked up in Alberta. Hundreds of families lost loved ones in the past month.

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VIDEO: Holiday 2020 Message

VIDEO: Holiday 2020 Message

Let’s be honest, 2020 has been a doozie. Just this week, a new set of near lock-down restrictions was announced in Alberta. Similar lockdowns are already in place across the country from PEI on the east coast all the way to British Columbia on the West Coast.

Christmas and other Holiday celebrations will certainly be different this year!

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Mortgage Minute 5: Thanksgiving 2020 Video Update

Mortgage Minute 5: Thanksgiving 2020 Video Update

Happy Thanksgiving from my family to yours. 2020 has been a difficult year for most of us, but I hope we can take this weekend to think of the things we have to be thankful for. Family, friends and our health.

Life in a COVID-19 world is ever-changing. We all experienced a quarantine period – many experienced temporary layoffs, and some more permanent.

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Mortgage Minute 4: Mortgage Update and Social Distancing

Mortgage Minute 4: Mortgage Update and Social Distancing

We are now over a month into Social Distancing across most of the world. It will likely last a few more months. It has wreaked havoc on our mental health. It has caused a large number of layoffs, or reduced hours of work for others. The uncertainty is crushing!

Alberta lost 100,000 jobs in March and more are being lost in April.

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Mortgage Minute 2: COVID-19 and Mortgage Rates

Mortgage Minute 2: COVID-19 and Mortgage Rates

Two weeks ago the Bank of Canada lowered it’s overnight rate by a half percent. This was the largest single day drop since 2008. Just over a week later on Friday the 13th, they did it again in an unscheduled rate announcement.

The major banks didn’t immediately follow suit, but as of today we have seen the banks pass along the full half percent rate drop again.

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