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Adam Chahl

Oakwyn Realty

1286 Homer Street Vancouver, British Columbia V6B 2Y5

Phone: (604) 800-8710

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Strong February Jobs Report Puts Canada’s Rate Pause in Doubt

Posted on Mar 13, 2023 in Community

Canadian Labour Market Jeopardizes Rate Pause

Today's Labour Force Survey (LFS) for February was much stronger than expected, questioning how long the Bank of Canada's rate pause can last. Following the 150,000 jobs gain in January, economists expected a small increase of 10,000 positions and a jobless rate of 5.1%. Instead, the economy added 21,800...

Canadian Employment arises a few percent

Posted on Mar 10, 2023 in Economics

Canadian Employment (February 2023)

Canadian employment rose slightly to 20.05 million in February, up by 22,000 (0.1 per cent). The Canadian unemployment rate held steady at 5 per cent, hovering just above all-time lows. Employment gains were concentrated in health care and social assistance (+15,000), public administration (+10,000), and utilities...

The Canadian Economy

Posted on Mar 09, 2023 in Economics

Economic Insights from Dr. Sherry Cooper

The Bank of Canada was the first major central bank to hit the pause button on rate hikes in late January. Given the slowdown in inflation in the recently released January CPI, The Bank of Canada will refrain from hiking interest rates this month.

That is welcome news for homeowners with adjustable-rate mortg...

Bank of Canada Interest Rate Announcement -March 8, 2023

Posted on Mar 08, 2023 in Economics

Bank of Canada Interest Rate Announcement

As signalled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning. In the statement accompanying the decision, the Bank noted that restrictive monetary policy is weighing on demand and it expects weak economic growth for the next couple of...

Getting ready for the Spring Market

Posted on Mar 08, 2023 in Market Update

Preparing for the Spring Market

According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022, putting the average home price at $662,103 in 2023. The downward trend stems from rising interest rates and continued uncertainty in the marketplace.

In some cases, sellers...

Bank of Canada Pauses Hikes as US Fed Signals More Tightening

Posted on Mar 08, 2023 in Community

The Bank of Canada Holds Rates Steady Even As the Fed Promises to Push Higher

As expected, the central bank held the overnight rate at 4.5%, ending, for now, the eight consecutive rate increases over the past year. The Bank is also continuing its policy of quantitative tightening. This is the first pause among major central banks.

Economic growth gro...

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