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 […]

Optimistic data from our Chief Economist Dr Cooper! January follows December in erasing the weak November job numbers providing good news for the Canadian economy. Manufacturing led the way as the jobless rate fell, and wage growth accelerated meaningfully. The robust labour market, coupled with consumer confidence holding firm in January at about historical averages, […]

Thank you Dr Cooper, this reduction in Qualifying rate is great news and a great way to start the Spring Market! Market interest rates have fallen sharply since the coronavirus-led investor flight to the safety of government bonds. The 5-year government bond yield–a harbinger of conventional mortgage rates–now stands at 1.34%, down sharply from the […]

Greta news regarding rates! ………… Global investors are selling stocks and piling into the safety of bonds in response to fears that the Wuhan coronavirus could disrupt global economic activity. Gold prices, another haven, have also risen. The Government of Canada 5-year bond yield traded this morning at roughly 1.35%, well below its nearly 1.70% […]

Hot off the press! Insight to today’s decision by the Bank of Canada about Prime Rate. In a more dovish statement, the Bank of Canada maintained its target for the overnight rate at 1.75% for the tenth consecutive time. Today’s decision was widely expected as members of the Governing Council have signalled that the Bank […]

Here is another great summary and outlook from our Chief Economist Dr Sherry Cooper. Thank you Sherry! Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between November and December owing to a dearth of new listings, especially in the GTA. National home sales edged down 0.9% in […]

Thank you to our friends at First National for the below information and projection 🙂 Mark your calendars for Jan 22, 2020 (next Bank of Canada Meeting) Residential Market Commentary – Jobs up. Rates steady. Jan 13, 2020 First National Financial LP The Canadian economy just keeps playing into the hands of the Bank of […]

Thank you to our economists Dr Sherry Cooper for the below 🙂 For this notoriously volatile data series, it is particularly true that ‘one month does not a trend make.’ Following last month’s dismal employment report, job growth rebounded in December, erasing almost half of the earlier decline (even more if you exclude transitory factors […]