Weekly Digest———April 11th, 2024There are lots of changes in the mortgage market this week.See below for;A. Update to the Bank of Canada + economic dataB. Changes to First Time Home Buyer criteria, including insured lending A Bump in the RoadAs expected, the Bank of Canada held...
Weekly Digest———March 28th, 2024 OSFI to Implement a Loan-To-Income Limit (LTI)A major change is coming to the mortgage market, and more restrictions for debt and leverage are being added. OSFI will soon implement a Loan To Income (LTI) limit on banks portfolios and future applications.This measure...
Weekly Digest Inflation ReportYear over year inflation came in at 2.80%. This was a surprise reading below last month’s 2.90% and well below market expectations of 3.10%. This also headlined the lowest reading since June of 2023. The forecast for a rate cut in June is now...
Weekly Digest———March 7th, 2024 Bank of Canada HoldsTo no surprise, B.O.C’s key rate was held at 5%, and Prime remains at 7.20%. Since inflation's peak, core inflation has averaged a 13 basis point monthly decline. If that pace continues, it means getting into the 2%’s could...
Weekly Digest———February 29th, 2024March Volume Run’sEach year, we notice a large market uptick in the real estate market come March. Seasonality, and lowering rates should lead to a very busy spring for Canada’s real estate market in 2024. More Inflation Data SetsCanada has a major housing...
Weekly Digest———February 22nd, 2024Inflation ImprovesCanada’s annual inflation rate fell to 2.9% in January down from 3.4% in the previous month. This was well below market expectations of 3.3%. The result marked a sharp reversal from the hot reading in December, revamping expectations of disinflation in...
Weekly Digest———February 15th, 2024 Have We Reached The End of the Housing Correction?Although house prices continued to fall in January, lowering mortgage rates are beginning to support affordability and stimulate home sales. With the sales-to-new listing ratio now pointing to positive house price inflation, we can...
Weekly Digest———February 9th, 2024 How a Strong US Economy Influences the B.O.C The U.S. economy is clearly in a better place than Canada’s. The U.S. GDP for Q4 is clocking in at 3.30% while we lagged at an estimated 1.20%. A sturdy US economy may have pulled Canada...
Weekly Digest ——— January 25th, 2024 Bank of Canada Announcement The Bank of Canada is done with rate hikes. That message was very clear in the announcement yesterday as stated they are “confident enough” that inflation is on the right track. We no longer have to dwell on rate...
Hopes are rising that 2024 could be the year when a resurgence begins to gather pace in Canada’s real estate market – but in the Greater Toronto Area (GTA), prospects of an imminent uptick appear decidedly slim.Fewer than 66,000 home sales were recorded in the...