UNBIASED REPORTING SINCE 2009
Everything is playing out as expected. Fixed rates have begun to fall, slowly. But this isn’t unusual or unexpected. If you’ve followed interest rate hikes and cuts, you’ll see a familiar pattern.
Continue reading “Why fixed rates haven’t dropped that much yet”
At the Mortgage Professionals Canada conference last month, Benjamin Tal, Deputy Chief Economist at CIBC World Markets, gave a very hopeful and informative presentation.
Mr. Tal always has a keen sense of what’s next both nationally and internationally. He is extremely apt at making sense of global economics, then breaking down in simple terms what it means for Canada. This time he came forward with a positive forecast that I agree with: rates are due to fall.
Continue reading “The 2024/2025 Rate Forecast”
You’ve probably heard me say this before: it’s never a good idea to time the market. But there are moments in time where if you’re looking, it might be better to act sooner than later. These times are rare, but when they do come around, they present a unique opportunity if you play your cards right. This is one of those times.
Continue reading “Looking To Buy? Now Might Be the Right Time”
Some not-so-great news from the Bank of Canada yesterday: the target rate was raised yet again by 0.25%. This one wasn’t a complete surprise. Rates have been climbing for the last year to battle red hot inflation. Inflation is now at 4.4%, which is huge progress from 8.1% this time last year. But last month’s Consumer Index Report logged an unexpected 0.1% jump in inflation from the previous month.
Continue reading “The Bank of Canada Does It Again”
Some weird stuff is happening in the world of real estate. As you likely know, the Bank of Canada has steadily raised interest rates over the past year in hopes of cooling inflation. This was also supposed to cool the housing market. Conventional wisdom dictates that higher rates would result in more mortgage defaults, more housing supply, and lower home prices. Oddly enough, none of that is happening.
Continue reading “Home Prices Heat Up Despite High Interest Rates”