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Posted by: Dean Kimoto
OSFI Is At It Again Late last week, the Office of the Superintendent for Financial Institutions (OSFI) announced it was concerned about the risks associated with the large and rising number of highly indebted borrowers, especially those with floating-rate mortgages, which stands at a record proportion of outstanding mortgage loans. With the economy in danger […]
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The Bank of Canada won’t like this inflation report November’s CPI inflation rate fell only one tick to 6.8%, despite gasoline prices falling. This follows a two-month reading of 6.9%. Excluding food and energy, prices rose 5.4% yearly last month, up from 5.3% in October. Critical gauges of underlying price pressure were mixed but continued […]
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The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening. Inflation around the world remains high and broadly based. Global economic growth is slowing, although it is proving more […]
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Bank of Canada will not be happy with this inflation report Not only did the headline CPI inflation rate stall at 6.9% last month, but the core CPI numbers remain stubbornly high. Food inflation–a highly visible component–edged down slightly. Still, prices for food purchased from stores (+11.0%) continued to increase faster year over year than the […]
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There’s been a lot of articles lately about rising mortgage rates causing hardship for home owners with mortgages. I had several conversations last week on this topic with people who know (or found out) I’m a mortgage broker. There’s a simple answer. If you’re in an adjustable or variable rate mortgage and the rising rates […]
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Very strong employment report for October Today’s Labour Force Survey for October was surprisingly strong, boosting wage inflation to an eye-popping 5.6% year-over-year pace. While good news for the economy, this is terrible news for the inflation fight–just when the Bank of Canada eased its foot on the brakes. The two-year and five-year Government of […]
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The bank of Canada slowed the pace of monetary tightening 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 […]
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The following article was posted by one of my lenders, First National, and has insights into current housing trends. Enjoy! Residential Mortgage Commentary – Misleading averages Since interest rates started climbing back in March there has been a lot said about declining home prices in Canada. Broadly speaking, market watchers have been forecasting a 20% […]
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Please Note: The source of this article is from SherryCooper.com/category/articles/ Tiff Macklem and Jay Powell Are Emulating Paul Volcker–I Was Volcker’s Special Assistant. 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 […]
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One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a second mortgage? First things first, a second mortgage refers to […]
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