Posted on Jul 12, 2023 in Mortgage News
The Bank of Canada raised its overnight rate by 25 basis points to 5 per cent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy has been stronger than expected but is expected slow as higher interest rate work their way through the economy. On inflation, the Bank cited the recent easing of inflation...Posted on Jul 11, 2023
It's a Close Call Which Way the Bank Will GoPosted on Jul 05, 2023
Home prices continue to rise in Metro Vancouver’s housing market to kick off the summerPosted on Jul 01, 2023 in Economics
Canadian real GDP was flat from the prior month in April, following a 0.1 per cent increase in March. Goods-producing sectors of the economy grew 0.1 per cent while services-producing sectors were flat. Construction activity rose 0.4 per cent as lower residential construction activity was offset by other subsectors, including engineering constructi...Posted on Jun 29, 2023 in Mortgage News
The May inflation data, released this morning by Statistics Canada, bore no surprises. The year-over-year (y/y) inflation measured by the Consumer Price Index (CPI) at 3.4% was just as expected--down a full percentage point from the April reading. This is the smallest increase since June 2021. Economists hit this one on the head because we knew dro...Posted on Jun 29, 2023 in Market Update
Commercial real estate sales and dollar volumes had a slow start to 2023, with year-over-year declines across all property types.