“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 […]
General Information
No Wonder The Bank of Canada Didn’t Hike Interest Rates Last Month
No Wonder The Bank of Canada Didn’t Hike Interest Rates Last Month Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions took a much larger toll in Canada than expected, as employment fell 200,100 in January and […]
The Slowdown In Canadian Housing Continued in May
The Slowdown In Canadian Housing Continued in May Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 7.4% nationally from April to May 2021, building on the 11% decline in April. Over the same period, the number of newly listed properties fell 6.4%, and the MLS Home Price Index rose 1.0%, […]
Accelerated vs Non Accelerated Payments
Here’s some good information, on video, that explains the difference between accelerated and non-accelerated payments. Typically bi-weekly or weekly.
Interest Rates & Commodity Prices Surge On Economic Rebound Optimism
In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration’s $1.9 trillion stimulus package is has triggered fears that if the US […]