Canadian mortgage borrowers waiting on the central bank may be disappointed by its latest move. The Bank of Canada (BoC) cut its overnight rate by 0.25 points to 2.75% on Tuesday. Many professionals applauded the decision, believing it would improve mortgage affordability. Unfortunately, that may not be the case, as the decision boosted inflation expectations […]
Canadian household debt has been showing big improvements. A combination of rate hikes that slowed borrowing, and recent rate cuts are delivering repayment relief. Before popping that bottle of HELOC-finance champagne, this may be the calm before the storm, warns BMO. Several economic headwinds, primarily the trade war, are set to hit households. The central […]
Canadian households may feel economic uncertainty, but the good news keeps rolling in. Statistics Canada (Stat Can) data shows that household net worth made a big jump in Q4 2024. In fact, every quarter in 2024 saw households gain more wealth as higher rates suppressed debt while wealth growth advanced. Unfortunately, it wasn’t a win […]
The Canadian economy has outperformed the central bank’s expectations for months now. That didn’t stop the Bank of Canada (BoC) from slashing the overnight rate by 0.25 points to 2.75% this morning. Since this easing cycle began 9 months ago, the key policy rate has been reduced by 2.25 points, making it one of the […]
Canada’s last job report didn’t have a frenzy of good news, but there was one highlight—wage growth. That was the take from BMO Capital Markets, who wrote to investors this morning about the substantial wage growth in February. Even with inflation set to rise and erode some of that growth, workers saw their weekly pay […]
Canada’s next leader hasn’t officially assumed the role, but he’s already looking to stimulate real estate. Last week, Vancouver’s “Condo King” Bob Rennie revealed that he is working with newly-minted LPC leader Mark Carney. The two are considering a plan that would see the country’s state-owned mortgage insurer use taxpayer resources to attract foreign investment […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Unemployment Stalls As More Young Adults Opt Out Of The Workforce Canada’s unemployment rate is stabilizing, easing the public’s economic concerns. However, looking past the headline data, we see the problem shifting to a different area. Last month’s job numbers and […]
No news is good news—at least when looking at the headline employment data. Statistics Canada (Stat Can) data shows that both the number of jobs and the unemployment rate were unchanged in February. Looking past the headline data was less flattering, revealing that more people opting out of the workforce is the primary reason for […]
Canada’s economy finally got some good news on the productivity front. Statistics Canada (Stat Can) data shows labor productivity jumped in Q4 2024. It was big enough to print annual growth for the first time in years. Before getting too excited, the growth was still abysmal and experts see tariff threats potentially derailing progress in […]
Greater Toronto real estate demand further eroded last month, but buyers likely didn’t notice. Toronto Regional Real Estate Board (TRREB) data shows home prices climbed in February. It wasn’t due to a lack of inventory, which hit the highest level since the 2008 Global Financial Crisis. Nor was it due to sales, which fell to […]
