Housing Correction Continued In October

General Bob Rees 16 Nov

Housing Correction Continued In October   Statistics released today by the Canadian Real Estate Association (CREA) show home sales were up 1.3% on a month-over-month basis in October. Still, monthly activity remained a whopping 36% below the October pace in 2021. The housing correction continues in response to the Bank of Canada’s massive rate hikes, […]

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Bank of Canada signals a slowdown

General Bob Rees 1 Nov

Thank you to our Partners at First National for the below insight! Residential Mortgage Commentary – Bank of Canada signals a slowdown Oct 31, 2022 The Bank of Canada has pushed interest rates up again, but the increase came in at the lower end of expectations. The Policy Rate rose by one-half of a percentage […]

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Bank of Canada Will Not Be Happy With This Inflation Report

General Bob Rees 19 Oct

Thank you to our Chief Economist, Dr Sherry Cooper for the below.  HOWEVER, I’m curious how effective increasing Prime Rate is on reducing inflation if the Federal Government continues its spending and printing of money ……. that might be the real question we should be asking?   Bank of Canada Will Not Be Happy With […]

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Orderly Housing Correction Continues

General Bob Rees 14 Oct

Orderly Housing Correction Continues There are many unusual aspects to the current housing correction, but fundamentally the most noteworthy is how orderly and non-chaotic it has been. Home sales have slowed, but so have new listings, so the price declines are more muted than we might have expected. This is not a housing collapse. It […]

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Job Market Weakens As Economy Slows

General Bob Rees 12 Sep

Job Market Weakens As Economy Slows The August employment report, released this morning by Statistics Canada, was considerably weaker than expected. Higher interest rates have slowed the red-hot labour market. The Canadian economy shed 39,700  jobs in August, missing market expectations of a 15,000 rise and bringing cumulative declines since May 2022 to 113,500 (see chart below). […]

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Housing Slowdown Continues in July

General Bob Rees 15 Aug

Housing Slowdown Continues in July Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates continued in July, albeit at a slower pace. Home sales recorded over Canadian MLS® Systems fell by 5.3% between June and July 2022. The pace of home […]

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The Canadian Economy Is Slowing–Job Markets Will Begin To Shift

General Bob Rees 5 Aug

The Canadian Economy Is Slowing–Job Markets Will Begin To Shift The July employment report, released this morning by Statistics Canada, is a real head-scratcher. The job numbers fell for a second consecutive month, but so did the number of job seekers, so the unemployment rate remained unchanged at a historic low of 4.9%. I have […]

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Canadian Inflation Surged to 7.7% In May

General Bob Rees 22 Jun

Canadian Inflation Surged to 7.7% In May Canada’s consumer price index increased 7.7% in May from a year earlier, up from 6.8% in April, the fastest inflation pace since January 1983. The release confirms that the Bank of Canada is staring down the most dangerous burst of Inflation since it started targeting the consumer price index in […]

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