Jobless Rates Hits 22-Month High–Led by Losses in Finance and Real Estate Employment Today’s StatsCanada Labour Force Survey for November was a mixed bag. Total employment gains were stronger than expected. However, the rising unemployment rate and drop in hours worked were signs of mounting economic weakness, especially in the financial and real estate sectors. […]

Weak October Jobs Report Likely Takes Further BoC Rate Hikes Off The Table Today’s StatsCanada Labour Force Survey for October was weak across the board. Total job gains were meagre, full-time jobs fell, hours worked were flat, wage inflation eased (a bit), and the unemployment rate rose. Employment changed little in October, up only 17,500 (0.1%), […]

Thank you to one of our preferred partners, First National, for their summary! Bank of Canada holds its interest rate steady, publishes updated economic forecasts Today, the Bank of Canada announced that it would maintain its overnight policy interest rate at 5.00%, stating that there is “growing evidence” that past interest rate increases are dampening […]

Good News On the Inflation Front Suggests Policy Rates Have Peaked Today’s inflation report for September was considerably better than expected, ending the three-month rise in inflation. Not only did the headline inflation rate fall, but so did the core measures of inflation on a year-over-year basis and a three-month moving average basis. This, in […]

Thank you to our partners at First National for the below stats and positive info.  Enjoy!     Residential Mortgage Commentary – Positive housing market sentiment Oct 2, 2023 First National Financial LP An interesting new survey suggests a growing number of Canadians may be getting ready to move back into the housing market. The […]

Bank of Canada leaves its benchmark interest rate at 5.0% Under the heading no news is good news, the Bank of Canada decided today to keep its benchmark (overnight) interest rate steady at 5.00%, putting at least a temporary hold on a policy that resulted in 10 increases stretching back to March 2022. At the […]

The Bank of Canada hiked the overnight rate for the tenth time today to a 22-year high of 5%. They also postponed their forecast of when inflation will hit the 2% target by six months to mid-2025. This means interest rates will stay higher for longer. Interest Rates Will Stay Higher For Longer The Bank […]

*** Thank you to our partners at First National for the below analysis.  Bank of Canada increases Prime by .25% today.***   Economic growth leads the Bank of Canada to increase its benchmark interest rate Jun 7, 2023 First National Financial LP Today, the Bank of Canada increased its overnight interest rate to 4.75% (+0.25% […]

Thank you to our partners at First National for the below update.   Canada’s federal banking regulator has released its second, Annual Risk Outlook.  The Office of the Superintendent of Financial Institutions (OSFI) is looking at whether to extend its mortgage guidelines, with an eye to reducing risk. OSFI has identified, what it considers, nine […]

Thank you Dr Copper for the summary 🙂     As promised, there would be nothing much in this year’s budget for fear of stimulating inflation. The federal government faces a challenging fiscal environment and a weakening economy. Ottawa promised it would err on the side of restraint. Instead, Finance Minister Chrystia Freeland announced a […]