Finally the news we’ve been all waiting for.  That is Variable Rate Mortgage Holders, anyone with a HELOC or perhaps any other source of debt that is tied to the Bank of Canada Prime Rate.  Today, marks the first decrease since the Bank of Canada steadily increased the rate over the last several years. They […]

Odds of a Rate Cut Next Week Rise with Disappointed Canadian GDP Growth   The likelihood of a rate cut next week has increased due to disappointing Canadian GDP growth. Real gross domestic product (GDP) only rose by 1.7% (seasonally adjusted annual rate) in the first quarter of this year, which is well below the […]

Canadian Inflation Eased Again in April, Raising the Chances of a June Rate Cut   The Consumer Price Index (CPI) rose 2.7% year-over-year (y/y) in April, down from 2.9% in March. This marks the fourth consecutive decline in core inflation. Food prices, services, and durable goods led to the broad-based deceleration in the headline CPI. […]

April’s Strong Job Gains Likely Postpone Rate Cuts Until July   Today’s StatsCanada Labour Force Survey for April blindsided economists by coming in much more robust than expected. Employment in Canada rose a whopping 90,400 in April, the most in 15 months, following a decline in March, surpassing forecasts by a large margin. Substantial job gains were […]

Is your mortgage coming up for renewal this year or in 2025? Do you know about all the incredible options renewing your mortgage can afford you? If not, I have all the details here on how to make the most of your renewal! Get a Better Rate: Did you know that when you receive notice that […]

Great News On The Inflation Front   The Consumer Price Index (CPI) rose 2.9% year-over-year in March, as expected, up a tick from the February pace owing to a rise in gasoline prices, as prices at the pump rose faster in March compared with February. Excluding gasoline, the all-items CPI slowed to a 2.8% year-over-year […]

As you likely have already heard today, the Bank of Canada announced it’s keeping its benchmark interest rate at 5.0%, unchanged from July of 2023.  This means that there is NO change for those within variable rate mortgages, lines of credit or any other loans tied to the Bank of Canada Rate which continues to […]

Great News On The Inflation Front   The Consumer Price Index (CPI) rose 2.8% year-over-year in February, down from the 2.9% January pace and much slower than the 3.1% expected rate. Gasoline prices rose in Canada for the first time in five months, which led many analysts to forecast a rise in February inflation as […]

February data bode well for a strong spring housing market   The Canadian Real Estate Association announced today that national home sales dipped 3.1% m/m in February while home prices were flat, ending a five-month price decline that began last fall. It was noteworthy that prices remained unchanged from January to February, given that they […]

  The focus of the Bank of Canada is on slaying the inflation dragon. The good news is that the year has started with a marked decline in price pressures. Due to falling energy prices, airline fares and a deceleration in clothing and food, year-over-year inflation in January dipped to 2.9%. This follows 3.4% inflation in […]