It was widely expected that the Bank of Canada would maintain its key policy rate at 5% for the third consecutive time. It will continue to sell government securities (quantitative tightening) to normalize its balance sheet. Market participants weighed and measured each word of the BoC press release and assessed that the Bank took a […]
General Information
Canadian Employment Gains Stronger than Expected in November, While Unemployment Rose and Hours Worked Fell
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 […]
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 […]