Canadian Inflation Fell to 3.1% (y/y) In October, Ensuring the BoC Holds Rates Steady. good news on the inflation front suggests policy rates have peaked Today’s inflation report showed a continued improvement, mainly due to falling year-over-year (y/y) gasoline prices. The October Consumer Price Index (CPI) rose 3.1% y/y, down from the 3.8% rise in […]
Soft Jobs Report Weakens Impetus for Further Bank of Canada Rate Hikes
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%), […]
Potential Penalty Differences – Bank/Non Bank
IRD penalties at banks can cost you thousands! Non all mortgages are created equal and this is one massive example to this. This example has all the same information inputted on all their online calculators, which are on the internet. I started out with a mortgage amount of $450k and exactly 3 years in to […]
Great insight from a great partner in the business.
From one of our leading partners in the industry First National. Always bringing us mortgage brokers and our clients great info. What’s ahead for Canada? Here is what the country’s leading economists think The Economic Club of Canada is our country’s most respected platform for non-partisan dialogue among the world’s most notable thought leaders. Its […]
Trigger rates and trigger points
“trigger rates” and “trigger points”….something you will be hearing of with more changes in the Bank of Canada rate. Let’s start with a few definitions: NOW, WHICH MORTGAGES WILL BE AFFECTED FIRST?Quick answer, VRMs from March 2020 to March 2022. During the month of March 2020, the prime rate dropped three times in quick succession from […]