The latest Canadian inflation numbers for February are in, and they were higher than expected—to say the least. Economists predicted inflation would land at 2.2%, up from January’s 1.9%, largely due to the expiration of a temporary federal tax holiday. But Statistics Canada reports that inflation surged to 2.6%, the highest level in eight months. [...]
Well, here we are again. The Bank of Canada (BoC) just delivered another 0.25% rate cut this morning, marking their seventh consecutive cut. This brings the prime rate down to 4.95%, once the banks and mortgage lenders follow suit—which typically happens within a few days. Just a few weeks ago, many were expecting the BoC [...]
It’s almost impressive how Trump manages to create chaos where none previously existed. On Monday, March 3rd, he announced that a 25% tariff would, in fact, be slapped on Canada and Mexico, effective March 4th., stating that "there is no room left" for a deal. The stock market immediately panicked, with the Dow Jones Industrial [...]
Every time Donald Trump starts talking tariffs, the markets go on a rollercoaster ride. And for Canadians, that means one thing—bond yields drop, which puts downward pressure on fixed mortgage rates. Earlier this month, when Trump confirmed new tariffs on Canada and Mexico, Canadian bond yields took an immediate dive. Then, when he announced a [...]
January’s inflation numbers are in, and they’re not exactly what the Bank of Canada (BoC) was hoping for. Headline inflation ticked up by 0.1% to 1.9%, according to Statistics Canada. While that might not seem like much, inflation would have been even higher if not for the federal GST holiday. The biggest driver? Energy prices, [...]
With all the buzz about falling mortgage rates, the idea of rate increases feels like something out of an alternate universe. But here’s the truth: even when rates are trending downward, it’s never a straight shot. One week we may be talking about mortgage rates dropping and the next week could see them ticking upward. [...]
If there’s one thing Donald Trump loves, it’s making headlines. Whether it’s a surprise announcement, a bold policy move, or a sudden change of heart, he knows how to keep the world on its toes. His latest act? Threatening a 25% tariff on goods imported from Canada and Mexico—and then signing them into action on [...]
As widely expected, the Bank of Canada has announced a 0.25% cut to its overnight rate in its first scheduled announcement of 2025. This marks the sixth consecutive cut, bringing the total reductions to 2.00% since the BoC began easing rates in June of last year. With this latest move, the prime rate is set [...]
As we prepare for the Bank of Canada to continue with their rate cuts, mortgage lenders have now started reducing their variable rate discounts off prime rate. In other words, mortgage lenders are becoming less aggressive with their variable rate offerings, meaning those currently shopping for a variable rate mortgage would now be offered higher [...]
Since the Bank of Canada’s aggressive rate hikes in 2022, variable rate mortgages became as popular as flip flops in a snowstorm. Given that the prime rate had increased faster than anyone expected, the Bank of Canada included, very few could stomach the risk. Variable rate mortgages came with a significant rate premium, starting borrowers [...]
