Canadian Housing Market Stuck In A Holding Pattern   National home sales increased in June following the Bank of Canada’s first interest rate cut since 2020, and activity posted another slight gain in August on the heels of the second rate cut in late July. Still, the bigger picture appears to be a market mostly […]

Weaker-Than-Expected August Jobs Report Raises Prospect Of Larger Rate Cuts   Statistics Canada released August employment data today, showing continued growth in excess supply in labour markets nationwide. Employment changed little last month, up 22,100. The employment rate—the proportion of the population aged 15 and older who are employed—decreased a tick to 60.8%, marking the […]

Bank of Canada Cuts Rates Another Quarter Point   Today, the Bank of Canada cut the overnight policy rate by another 25 basis points to 4.25%. This is the third consecutive decrease since June. The Bank’s decision reflects two main developments. First, headline and core inflation have continued to ease as expected. Second, as inflation […]

Q2 Canadian Growth, Boosted By Record Population Gains, Slows In June And July   Canada’s economy grew a bit more than expected in the second quarter, but falling per-capita gross domestic product and softening household consumption assure the Bank of Canada that it will cut rates for a third consecutive meeting next week. Canadian GDP […]

More Good News On The Canadian Inflation Front   Inflation in Canada decelerated once again in July to its slowest pace in three years, assuring the central bank will cut rates for the third consecutive meeting on September 4. The US is also widely expected to begin easing monetary policy at its September confab. The […]

Canadian Housing Market Paused In July   Despite the continued decline in interest rates, the Canadian housing market saw summer doldrums last month. The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.7% monthly while rising 4.8% from year-ago levels. A significant uptick in sales activity is likely this fall, reflecting […]

Weaker-Than-Expected July Jobs Report Keeps BoC Rate Cuts In-Play   Canadian employment data, released August 9 by Statistics Canada, showed a continued slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Employment declined again in […]

Canadian Inflation Fell in June, Setting the Stage For BoC Rate Cut   Inflation unexpectedly slipped 0.1% (not seasonally adjusted) in June, following a 0.6% increase in May. This was the first decline in six months. The monthly decrease was driven by lower prices for travel tours (-11.1%) and gasoline (-3.1%). The Consumer Price Index (CPI) rose 2.7% year over […]

Weaker-Than-Expected June Jobs Report Keeps BoC Rate Cuts In Play   Canadian employment data, released today by Statistics Canada, showed a marked slowdown, which historically would have been a harbinger of recession. This cycle, immigration has augmented the growth of the labour force and consumer spending, forestalling a significant economic downturn. Nevertheless, the Bank of […]

9 Reasons People Break Their Mortgage. Did you know, approximately 60 percent of people break their mortgage before their mortgage term matures? While this is not necessarily avoidable, most homeowners are blissfully unaware of the penalties that can be incurred when you break your mortgage contract – and sometimes, these penalties can be painfully expensive. […]