Dr Cooper, thank you for your insight during these unprecedented times 🙂   Why Are Mortgage Rates Rising? Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates […]

Thank you Dr Cooper, another prime rate drop ….. interesting time!   The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system […]

Contrary to public opinion, we have been told (and have already seen) that fixed rates will now increase.  Please see below article that explains. The plumbing behind world’s financial markets is creaking. Loudly Tommy Wilkes 8 MIN READ LONDON (Reuters) – The coronavirus panic is jolting stock markets, with steep drops in major indexes grabbing […]

Steady February Job Market Ahead of Virus Scare Job growth in Canada remained robust last month, with net employment gains of 30,300, all of which were in private-sector full-time jobs. The unemployment rate rose a tick to 5.6%, but that is still down from a year ago and around multi-decade lows. The positive news was wage […]

Well, this is getting interesting ……   Prime Minister Justin Trudeau said Canada would introduce a “significant” fiscal stimulus package, as part of a coordinated effort with other Group of Seven countries to counter the virus-driven global economic slowdown and calm markets. In an exceptional press conference held at 2 pm today, Finance Minister Morneau […]

Thank you Dr Cooper for your insight 🙂     Global Markets in Turmoil, Oil Prices Plunge Along With Yields Markets shuddered in the face of a price war for oil and the economic fallout from the growing outbreak of coronavirus. Frightened investors poured into haven assets sending yields to unprecedented lows. Oil prices tumbled […]

 Let’s see what the Bank of Canada does tomorrow 🙂  ……….  In a remarkable show of force, the US Federal Reserve jumped the gun on its regularly scheduled meeting on March 18 and cut the target overnight fed funds rate by a full 50 basis points (bps) to 1%-to-1.25%. This now stands well below the […]

 Not good news for your investment funds … but great news for mortgage rates!    Virus Anxiety Hits Canada As though things weren’t volatile enough, a new wave of virus terror is wreaking havoc on global financial markets. The novel conronavirus, COVID-19, continues to spread causing panic in worldwide stock and bond markets for the […]

Every little bit helps : ) The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to help more Canadians achieve their […]

Home Sales Slip A Bit In January As Supply Tightens Pushing Up Prices Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between December and January owing to a dearth of new listings, especially in the GTA. As the CREA chart below shows, the pace of monthly home […]