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 […]

Dave has some really great points here, thank you Dave!   4 HOME IMPROVEMENTS THAT WILL PAY YOU BACK Some home improvements provide more of a payback when you sell the house down the road. Here’s a list of the four home improvements which will provide the biggest payback when you sell.  Adding square footage […]

This is a great program if you are trying to get into the market. Informative article from my colleague Angela. Worth checking out. How to get a 5% down payment for a $500,000 purchase We have seen a return of the buyers’ market and many people are asking, how long will this last? While some […]

Have you heard about the New First Time Home Buyers Plan being released by the Federal Government?  See below for link as well as details. https://www.theglobeandmail.com/politics/article-new-incentive-for-first-time-home-buyers-to-launch-sept-2/ https://globalnews.ca/news/5393428/first-time-home-buyer-incentive-details/   High Points: Reduces the maximum amount a buyer can borrow available to first-time home buyers with household incomes of less than $120,000. The amount of the insured […]