Housing Market Could Be Poised For A Spring Rebound

Latest News Gabriel Da Silva 16 Mar

The Canadian Real Estate Association says home sales in February bounced 2.3% from the previous month. Homeowners and buyers were comforted by the guidance from the Bank of Canada that it would likely pause rate hikes for the first time in a year. The Canadian aggregate benchmark home price dropped 1.1% in February, the smallest […]

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The big question on mortgage borrowers’ minds: fixed or variable?

General Gabriel Da Silva 14 Feb

    With variable mortgage rates potentially at a peak and fixed rates having recently retreated, borrowers are asking themselves the age old mortgage question: should you go fixed or variable? It’s a decision being faced by anyone in the market to purchase and those with upcoming renewals. And there are two schools of thought […]

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Red Hot Labour Market Despite Rate Hikes

Latest News Gabriel Da Silva 10 Feb

  Today’s Labour Force Survey (LFS) for January was much stronger than expected, once again calling into question how long the Bank of Canada’s rate pause will last. This report showed no evidence that the labour market is slowing in response to the vast and rapid runup in interest rates. Employment surged by 150,000–ten times […]

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OSFI leaves mortgage stress test unchanged

Latest News Gabriel Da Silva 15 Dec

OSFI leaves mortgage stress test unchanged Canada’s banking regulator confirmed today it will leave the mortgage stress test for uninsured mortgages unchanged. In its annual review of the minimum qualifying rate (MQR) used by federally regulated lenders, the Office of the Superintendent of Financial Institutions (OSFI) said the MQR has provided a margin of safety […]

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The Bank of Canada Slowed the Pace of Monetary Tightening

General Gabriel Da Silva 27 Oct

  The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional […]

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Fixed mortgage rates are expected to take another step up next week

Latest News Gabriel Da Silva 23 Oct

Fixed mortgage rates are expected to take another step up next week, pushing some 5-year fixed mortgages into 6% territory. Five-year fixed mortgage rates typically follow the Government of Canada 5-year bond yield, which surged more than 40 basis points over the course of the week—briefly reaching a 14-year high on Friday—before retracing some of […]

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Bank of Canada Will Not Be Happy With This Inflation Report

Latest News Gabriel Da Silva 19 Oct

  Canada’s headline inflation rate ticked down slightly last month to 6.9%, but measures of core inflation remain stubbornly high, and food prices hit a 41-year high. Lower gasoline prices were primarily responsible for the decline in inflation in the past three months. Bond markets sold off on the immediate release of the data this […]

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Rising Interest Rates!

Latest News Gabriel Da Silva 7 Oct

  Forty-Three Years Ago, I Was Fed Chair Paul Volcker’s Special Assistant Inflation appears to be book-ending my career. I started my work as an economist in the Research Division of the Federal Reserve Board in Washington, D.C., in the late 1970s. Inflation had been trending higher for years. Neither Arthur Burns nor G. William […]

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