CategoryRate forecast

Posted July 25, 20241 Comment Bank News

Bank of Canada Rate Cut July 2024: Impact on Mortgages and Economy

The Bank of Canada just cut the overnight rate by another 0.25%. For the second consecutive month, they’ve lowered the rate. In total, a 0.50% drop in two months. (not enough, but it’s a start) Great news for anyone in a Variable rate mortgage. It means you will be paying 0.50% less on your mortgage. We can expect further cuts this year and next. Read on for more details.

Posted July 16, 20242 Comments Bank News

As expected, rates are beginning to fall

Some good news on mortgage rates…

Mortgage Brokers are receiving good news this week from many financial institutions. Wholesale fixed mortgage rates are falling. Great news for anyone buying, refinancing or renewing their mortgage in the near future.

The news comes as a reaction to lower than expected inflation rates. We saw 2.7% vs the expected 2.9% reported. And the US economy is finally seeing signs

Posted June 25, 2024 Bank News

Why fixed rates haven’t dropped that much yet

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.

Posted January 30, 20241 Comment Finance

Population Crisis Part 1: The Bad News

Well, it’s safe to say that our federal government has officially lost the plot. Immigration numbers have exploded, and Trudeau has done absolutely nothing to prepare for the mass amounts of newcomers flowing in. Pre-Trudeau, we were receiving on average 200,000 immigrants per year. Under Trudeau, that number ramped up to 400,000, then 500,000, then 1,200,000.

Posted January 4, 20231 Comment Finance

What To Expect in 2023

Happy new year everyone! I hope everyone reading this took some time to reflect and recharge over the holiday season. There was a lot of negativity swirling around in 2022, and I’m sure a lot of you needed a break from it all. I sure did. It’s easy to get swept up in all of the doom-and-gloom. But if you look at the big picture, you might see that there’s a lot to be optimistic about in 2023 – in the housing market, the economy, and beyond.