23 Feb

Canadian Home Sales Continued to Rise in January as Markets Tightened

General

Posted by: Dean Kimoto

Canadian home sales continued their upward trend in january as prices fell modestly The Canadian Real Estate Association announced today that home sales over the last two months show signs of recovery. National sales were up 3.7% between December 2023 and January 2024, building on the 7.9% gain in December. The chart below shows that […]

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20 Feb

Great News On The Inflation Front Cause Big Bond Rally

General

Posted by: Dean Kimoto

Canadian inflation falls to 2.9% in january, boosting rate cut prospects The Consumer Price Index (CPI) rose 2.9% year-over-year in January, down sharply from December’s 3.4% reading. The most significant contributor to the deceleration was a 4% decline in y/y gasoline prices, compared to a 1.4% rise the month before (see chart below). Excluding gasoline, […]

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12 Feb

Latest in mortgage news: 50% of Canadians say high interest rates are negatively impacting their love life

Latest News

Posted by: Dean Kimoto

As Cupid readies his arrows for Valentine’s Day, a new survey has uncovered that high interest rates are taking their toll on Canadians’ romantic life. Nearly half of respondents said higher mortgage or rent payments have (35.2%) or may have (14%) negatively impacted their love life in the past 12 months, according to the survey commissioned by […]

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15 Jan

How the Smith Manoeuvre can help mortgage brokers grow their business

General

Posted by: Dean Kimoto

For nearly four decades, Canadians have turned to an investment strategy of writing off the interest from mortgage payments as tax-deductible. Known as the Smith Manoeuvre—after its creator, financial planner Fraser Smith—the strategy involves getting a readvanceable mortgage, which includes a line of credit. After paying the mortgage every month, a homeowner then borrows the […]

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22 Dec

Bank of Canada’s confidence grows that rates are now high enough, but says inflation risks remain

General

Posted by: Dean Kimoto

The Bank of Canada’s six-member Governing Council believes the odds have increased that interest rates are now high enough to bring inflation back to target. That’s according to a summary of the council’s deliberations from its December 6 monetary policy meeting. “Members agreed that the likelihood that monetary policy was sufficiently restrictive to achieve the inflation target […]

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