Jobless Rates Hits 22-Month High–Led by Losses in Finance and Real Estate EmploymentToday’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. Employment […]
General Information
Inflation fell in October
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 […]
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 […]