Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canadian Mortgage Rates Start Climbing As Gov Bond Yields Surge Government of Canada (GoC) bond yields are making a steep climb, especially the 5-year term. Since fixed rate mortgage costs are directly influenced by this, expect mortgage rates to climb. The GoC […]
Canadian interest rates might be coming down but the bond market is signaling higher mortgage rates. The Government of Canada (GoC) bond yields have reverse coursed and begun to climb sharply since central bank rate cuts earlier this week. Rising yields directly impact the cost of financing fixed-rate mortgages, which have been the most affordable […]
Canadian real estate buyers may be disappointed by the lack of relief they got from a supersized rate cut. A new BMO investor memo explains the Bank of Canada (BoC) overnight rate cut only provides relief to variable rate mortgages and HELOCs. Since more popular fixed rate mortgages are cheaper, buyers hoping for a cheaper […]
Canada’s central bank announced another “supersized” rate cut this morning, as widely expected by the market. The Bank of Canada (BoC) overnight policy rate was slashed to 3.25% after being trimmed by a 50 basis points (bps) drop. This marked the fifth consecutive cut to the rate, and the second supersized cut—a move typically only […]
Canada managed to add tens of thousands of jobs last month, but it added even more workers. Statistics Canada (Stat Can) data shows the country added a healthy 51k jobs in November. Unfortunately the rise in workers was significantly higher, leading to the highest non-pandemic unemployment rate since 2017. It’s also getting harder to exit […]
What pandemic? Statistics Canada (Stat Can) recently revised its gross domestic product (GDP) data to show the economy is doing better. Revisions are routine, just not at this scale—which BMO called “re-writing” the pandemic. Now the data shows the hardest hit industries weren’t nearly as impacted as previously believed, and they’ve all recovered at this […]
Canada’s economy is still chugging along, and doing better than many experts thought. Statistics Canada (Stat Can) data shows Gross Domestic Product (GDP) advanced in Q3 2024, mainly driven by household borrowing and government spending. A continued drop in per-capita GDP was almost entirely overshadowed by big upward revisions to prior data. One of the […]
Time for your cheat sheet on this week’s top stories. Canadian Real Estate Canada Loses 1 In 5 Immigrants, High-Skill Labor Most Likely To Flee Canada is world-renowned for its ability to attract immigrants, but few realize how many it fails to retain. A new study found that 1 in 5 immigrants leave for onward […]
Canadian households sent another sign they’re getting comfortable borrowing—the return of home equity loans. Statistics Canada (Stat Can) data shows the balance of home equity line of credit (HELOC) accounts, continued to climb in September. The segment went through a lull as higher rates and stricter lending standards motivated deleveraging. However, with the return of […]
Canadian inflation is picking up, surprising the market despite warnings the slowdown was temporary. Statistics Canada (Stat Can) data shows the Consumer Price Index (CPI) accelerated sharply in October. Experts largely reiterated their expectations of a double-rate cut by next month. However, the data used by the central bank to justify the last double-cut has […]
