INCREASING MORTGAGE RATES AND HOUSING IN SEPTEMBER

General Jon Muir 13 Oct

Increasing Mortgage Rates And Housing In September Mortgage rates continued to rise in September after BoC tightening and one of the largest bond selloffs in history. Yields have retraced some of their rise more recently, but demand for new and existing homes has slowed. According to data released by the Canadian Real Estate Association, national […]

Read More

ANOTHER STRONG JOBS REPORT TESTS BOC PATIENCE

General Jon Muir 6 Oct

Another Strong Jobs Report Tests BOC Patience Canadian employment rose by a whopping 63,800 in September, tripling market expectations. The underlying data put the strong job growth into perspective. Most of the gains in overall employment were in part-time work, and total hours worked declined by 0.2%. Moreover, the unemployment rate held steady for the […]

Read More

THE ADVANTAGES OF USING A MORTGAGE AGENT

General Jon Muir 26 Sep

The Advantages of Using a Mortgage Agent When it comes to securing a mortgage for your dream home, navigating the labyrinth of options, lenders, and terms can be a daunting task. This is where a mortgage broker steps in as your trusted ally, simplifying the process and ensuring you make the best financial decisions. In […]

Read More

AUGUST INFLATION HOTTER THAN EXPECTED

General Jon Muir 19 Sep

August Inflation Hotter Than Expected Canada’s inflation rate accelerated more than expected for the second consecutive month, mainly driven by higher gasoline prices. This will not be a one-month wonder as gasoline prices rose further in September. The consumer price index increased 4.0% in August from one year ago, the fastest pace since April, after […]

Read More

IN PERSON MEETINGS VS. VIRTUAL MEETINGS

General Jon Muir 18 Sep

In Person Meetings Vs. Virtual Meetings In today’s rapidly evolving world, the way we conduct business and communicate with clients has undergone a significant transformation. Traditional in-person meetings have been supplemented, and sometimes even replaced, by the convenience and efficiency of virtual meetings. Whether you’re a professional navigating this landscape or a client seeking services, […]

Read More

HOME SALES DIPPED AND BOC RATE HIKES

General Jon Muir 15 Sep

Home Sales Dipped and BOC Rate Hikes Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, well below the 10-year moving average shown in the chart below. However, on a year-over-year (y/y) basis, […]

Read More

BANK OF CANADA HOLDS RATES STEADY ACKNOWLEDGING ECONOMIC SLOWDOWN

General Jon Muir 6 Sep

Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown With the August 30th publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today’s meeting. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%. Today’s press […]

Read More

RATE HIKES ARE DEFINITELY OFF THE TABLE

General Jon Muir 1 Sep

Rate Hikes Are Definitely Off The Table The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected. Real GDP edged downward by a 0.2% annual rate in Q2. The consensus was looking for a 1.2% rise. The modest decline followed a downwardly revised 2.6% growth pace […]

Read More

HOUSING MARKET DIPPED IN JULY

General Jon Muir 16 Aug

Housing Market Dipped in July According to Shaun Cathcart, the Canadian Real Estate Association’s Senior Economist, “Following a brief surge of activity in April, housing markets have settled down in recent months, with price growth now also moderating with its usual slight lag. Sales and price growth are already showing signs of tapering off further […]

Read More

JULY INFLATION ROSE BUT CORE INFLATION IMPROVED

General Jon Muir 15 Aug

July Inflation Rose But Core Inflation Improved The Consumer Price Index (CPI) rose 3.3% y/y in July, up from a 2.8% rise in June. The acceleration in headline inflation was widely expected due to a base-year effect on gasoline prices, as a sizeable monthly decline in July 2022 (-9.2%) no longer impacts the 12-month movement. […]

Read More