This is a great indicator and the below also touches on Stress Test Impact and other variables, thank you Dr Cooper!   Housing resales rose for the sixth consecutive month in August as prices increased across the country. August marked the largest one-month gain in Canadian home prices in two years. Statistics released today by […]

Rates are still low and appear to remain so for a while still.  Thank you to our Chief Economist, Dr Cooper, for the below insight!   Bank of Canada Holds Overnight Rate Steady Amid Uncertainty The Bank of Canada held the target overnight rate at steady at 1.75% for the seventh consecutive decision date but […]

Great insight from my colleague Dave :  Thank you Dave! RAISE YOUR CREDIT SCORE IN 3 MONTHS While people often think of mortgage brokers when they are first time home buyers, we can help people in a variety of different ways. Recently Garrett LaBarre of Calvert Home Mortgages in Calgary shared a success story with […]

One item to take form Dr Cooper below is that Bond Yields are down ….. this means continued low fixed mortgage rates or perhaps even more reductions …… have a read below!   JOBS STALL FOR SECOND MONTH IN A ROW, BUT WAGE GROWTH SURGES The booming labour market in Canada seems to have vanished, […]

If you’re interested in what’s happening South of the border regarding rates .. then see the below from our Chief Economists.  Thank you Dr Cooper!   The Federal Open Market Committee (FOMC) cut the overnight target rate by 25 basis points as expected today. Chairman Jerome Powell, however, said it was designed to “insure against […]

Every little bit counts!  Reduction in the qualifying rate explained below by our Chief Economist!  Great read!   The interest rate used by the federally regulated banks in mortgage stress tests has declined for the first time since 2016, making it a bit easier to get a mortgage. This is particularly important for first-time homeowners […]

Thank you to my colleague at DLC Dave for the below insight, well explained!   A number of times I have had people who wonder why they need to provide so much documentation when it comes to arranging a mortgage. Besides an employment letter, you are usually asked to provide a pay stub and your […]

Thank you to our Chief Economist, Sherry Cooper, for the below insight!  You’re the best! – Bob The Bank of Canada held the target overnight rate at 1.75% for the sixth consecutive decision and showed little willingness to ease monetary policy, as stronger domestic growth offsets the risk of mounting global trade tensions. There has […]

….. From our Economist Dr Sherry Cooper, thank you Sherry!    Following Months of Booming Jobs Growth, Gains Stall in June   After a long stretch of stronger-than-expected Canadian jobs growth, it is not surprising that this notoriously volatile data series took a breather. There was little change in the number of employees in both […]

Some food for thought here for sure …… WHO REALLY SETS INTEREST RATES? A recent article in the Huffington Post addressed the pricing strategy for the Big Six Banks, BMO, CIBC, National Bank, RBC, Scotia and TD and who really sets interest rates.  RBC announcing a rate drop in January and the other banks soon […]